BUAD 3010 Chapter 9 Quiz
________ refers to setting price based on buyers' perception of value rather than on the seller's cost. Customer value-based pricing Value-added pricing Cost Cost-based pricing Good-value pricing
Customer value-based pricing
New, premium movie theaters offer features such as online reserved seating, high-backed leather executive chairs with armrests and footrests, the latest in digital sound, super-wide screens, and other amenities for which they charge a higher price. This is an example of which type of pricing? Breakeven pricing Cost-plus pricing Value-added pricing High-low pricing EDLP pricing
Value-added pricing
Gillette charges a fairly low price for its razors (relative to costs) and a high price for razor blades. It is using a strategy of ___________ pricing. product line captive-product two-part pricing product-bundle by-product
captive-product
Companies that use ________ continually adjust prices to meet the characteristics and needs of individual customers and situations. segmented pricing psychological pricing cash rebates dynamic pricing promotional pricing
dynamic pricing
Many state colleges and universities charge one price for in-state students and a higher price for out-of-state students. Which form of segmented pricing are these schools using? time-based pricing customer-segment pricing location-based pricing promotional pricing product form pricing
location-based pricing
A company has set a low price on a new product it introduced. It wants to maximize its market share and attract a large number of buyers quickly. Which new product pricing strategy should the company use? captive-product pricing market-penetration pricing psychological pricing product bundle pricing market-skimming pricing
market-penetration pricing
When Apple Computer Company introduced its iPhone, its priced the new product at $599, considerably higher than either their iPod or competing cellular phones. Apple Computer was pursuing a ___________________ new product pricing strategy. market-skimming by-product captive-product optional-product market-penetration
market-skimming
A car buyer can choose a base model at one price, or one with a premium sound and navigation system at a higher price. This is an example of _______ pricing. optional-product product-bundle captive-product by-product product line
optional-product
Bath & Body Works offers "three-fer" deals on its soaps and lotions (such as three antibacterial soaps for $10). This is an example of _______ pricing. by-product two-part pricing product line product-bundle captive-product
product-bundle
A retailer temporarily prices a few select items below cost to create excitement and pull consumers into the store. This is an example of _________ pricing. segmented geographical optional product psychological promotional
promotional
