MKTG Ch 14 LS

Variable costs change with

One reason Taco Bell raised its prices was the result of an increase in _____.

The quick service restaurant (QSR) market is considered a(n)_______.

Taco Bell's predominant pricing strategy is _______.

Giving consumers larger quantities at a low price would help Taco Bell regain _____.

According to the typical demand curve, lower prices will result in _____ being sold.

The more substitutes that exist in a market,

_______ measures consumers' sensitivity to price changes.

What characterizes a market with oligopolistic competition?

U.S. Cellular sets prices based on adding value to its products and services. Which pricing orientation does this reflect?

Though confusing to customers, U.S. Cellular priced its bundles very similar to its competitor's prices. Which competitor-oriented pricing strategy did U.S. Cellular use in this example?

If the market is elastic, relatively ____ changes in price generate fairly _____ changes in the quantity demanded.

What does U.S. Cellular need to consider in setting prices for its various data plans?

The full price of a product or service includes all of the following except

_______ products are products whose demands are positively related and as such, they rise or fall together.

Barry customizes Harley-Davidson motorcycles. No two cycles are alike. He notices that very few customers even ask the price of his motorcycles before they decide to purchase them. Demand for his motorcycles is probably

For which of the following is demand likely to be most sensitive to price increases?

Which of the following markets is most likely to be characterized by oligopolistic competition in the United States?

How can a company find its way out of a market characterized by pure competition?

According to a typical demand curve, the higher the price,

Historically, prices were

One problem in relying on price elasticity and demand curves when setting prices is