Quiz 7 example #12527

If demand bounces around when prices change, it is

If E = 1, demand is said to be

Since we read from left to right, when we see a price, we process the number of dollars before the number of cents. This is why so many prices end in what number?

To what does FIFO refer?

Which of the following is true about the price-sensitive segment?

Ashton wants to generate interest in the new branch of his hobby stores that is opening next week. He plans to offer temporary price cuts and issue coupons. This practice is referred to as

Which of the following pieces of information is found in scanner data

__________ is the idea that the price (on the sticker) is much higher than the referent.

Company ABA showed its customers products with various combinations of features and attributes, with price being one of them. Its customers were asked: "Which combination do you prefer most, next most, etc.?" What type of study did Company ABA conduct?

If the inner/middle pricing choice between two extremes looks particularly attractive, we call this the

The point of indifference at which you say, "If you raise the price, forget it, I won't buy; if you drop the price, okay, I will," refers to which of the following terms?

What does it mean for demand to be unitary?

Services are said to be __________, which means there is no such thing as storing inventory or excess capacity.

Which of the following is true about competitive pricing?

Which of the following is the formula for cost-plus pricing?

(Price - Variable costs) is also called

ABC Company has several product models within its product line. The company charges different prices, which can reflect different __________ functionality.

If a change in price barely affects demand, it means the demand is

From a marketing perspective, pricing should be about the

Company XYZ manufactures quality widgets, but does not invest a significant effort in marketing the company or its widgets. If Company XYZ were to develop a __________, one of the benefits it would realize is the ability to charge premium prices.

Lee is the product manager for a software program sold by Company ABC. In evaluating the product, Lee determines that something just isn't right with how the software program is marketed to potential customers, and he feels a change is necessary. Which of the following marketing mix variables is easiest for Lee to change?

Profit maximization occurs when marginal revenue equals

If your fixed costs (including marketing, advertising, R&D, depreciation, etc.) are high relative to variable costs (which include labor or unit components), the strategic objective is to

A price's role as a cue is so strong that prices are known to contribute to the formation of __________ prior to a purchase

Which of the following formulas defines profit?

Marketers frequently use __________ to try to estimate the likely results of various actions, most frequently price cuts and competitive response.

The idea that price is actually negotiated between the buyer and seller refers to which of the following terms?

__________ is greater when the item is a luxury good rather than a necessity, when many substitutes are available, or when the purchase is a relatively big one.

__________ is an assessment of what the customer gets compared with what the customer gives up.

A survey asks the following two questions: Q1 At $25.00, I definitely would not buy 1 2 3 4 5 6 7 definitely would buy Q2 At $35.00, I definitely would not buy 1 2 3 4 5 6 7 definitely would buy There is a segment of people who are not really interested in the product regardless of the price. What are their answers most likely to be?

BigTime Products, Inc. sets high prices for its products, and the company seeks profit margin, not volume. In which strategy is BigTime Products engaged?