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Exam 20: Pricingdecisions

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Question 21

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Executives in Japan decided to price Lexus luxury cars in the United States at $55,000 while pricing them at $66,000 in their own country.This is an example of

A) secondary-market pricing.
B) price skimming.
C) bait pricing.
D) prestige pricing.
E) random discounting.

F) B) and E)
G) B) and D)

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Question 22

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Periodic discounting is often predictable so consumers wait to make purchases until they can benefit from the price reductions.

A) True
B) False

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Question 23

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Companies that focus on particular product categories and rely on everyday low pricing to acquire a large market share through aggressive and competitive pricing strategies are often referred to as

The management at Allied Electronics is having difficulty in raising the introductory price on system components to cover the increased costs of producing the sensing devices for home security systems.Apparently,Allied used a(n) ____ strategy in pricing these components.

A firm establishes which of the following pricing objectives to maintain or increase its product's sales in relation to total industry sales?

Marketers that evaluate competitors' prices do so to set their own prices slightly below those of competitors.

The role played by attitudes toward price in the overall evaluation of the marketing mix is a minor concern in identifying the target market.

Explain the difference between cost-plus and markup pricing.

To attract customers into a store,Safeway advertises its milk at less than cost,hoping that customers will purchase other groceries as well.This pricing strategy is called

A product is a price leader when

When an organization sets a number of prices for selected groups of merchandise,this is commonly referred to as

Marketers must take steps to make sure that the pricing objectives they set are consistent with the organization's ____ objectives and ____ objectives.

How are pricing objectives similar to a corporation's overall goals? How are they different?

How might a marketer find information about a competitor's prices? Why is this information important?

If Nabisco wants to quickly gain a large market share with its new line of reduced-fat snack crackers,it should use

Some stores employ comparison shoppers to learn what prices their competitors are charging.

A product that has more features than those of its competition,or that is perceived to be of higher quality,warrants using which type of pricing strategy?

If Nabisco had established a pricing objective of selling one out of every three crackers consumed in the world,it would have established an objective based on

What is bundle pricing? Give three examples,each one from a different industry.

Cost-based pricing strategies result in a percentage being added to the cost of the product.