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16 Cards in this Set
- Front
- Back
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WHICH OF THE FOLLOWING STATEMENTS ABOUT PRICE IS TRUE? |
PRICE CAN MEAN EXCHANGE OF NON-MONETARY GOODS OR SERVICES |
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THE VALUE OF SOMETHING WE GIVE UP IN ORDER TO OBTAIN SOMETHING ELSE IS REFERRED TO AS AN ____________________. |
OPPORTUNITY COST |
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WHICH OF THE FOLLOWING IS NOT A TYPE OF PRICING OBJECTIVE? |
ELASTICITY |
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WHAT TYPE OF PRICING OBJECTIVE DID HOME DEPOT USE? |
COMPETITIVE EFFECT |
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WHY ARE PRESTIGE PRODUCTS OFTEN AN EXCEPTION TO THE LAW OF DEMAND? |
INCREASING THE PRICE OF PRESTIGE PRODUCTS CAN MAKE THEM SEEM MORE DESIRABLE. |
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___________ ARE THE PER-UNIT COSTS OF PRODUCTION. |
VARIABLE COSTS |
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______ DO NOT VARY WITH THE NUMBER OF UNITS PRODUCED. |
FIXED COSTS |
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THE BREAK-EVEN POINT IS THE POINT AT WHICH __________. |
THE TOTAL REVENUE AND TOTAL COSTS LINES INTERSECT |
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JOE'S COFFEE NOOK. THE DEMAND FOR LATTES IS ________. |
ELASTIC |
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THE METHOD OF SETTING PRICES IN WHICH MARKETERS TOTAL ALL THE COSTS FOR THE PRODUCT AND THEN ADD AN AMOUNT TO ARRIVE AT THE SELLING PRICE IS CALLED ________. |
COST-PLUS PRICING |
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A FIRM IS USING ______ WHEN IT CHARGES HIGH |
A SKIMMING PRICE |
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SWATCH SURVEYED THE MARKET AND IDENTIFIED. THE UNORTHODOX ORDER OF THIS MARKETING MIX DECISION IS AN EXAMPLE OF ______. |
TARGET- COSTING |
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JOHNSON BOATS WANTS TO INTRODUCE A NEW MODEL OF BOAT INTO MATURE MARKETS IN HIGH DEVELOPED COUNTRIES. WHAT KIND OF STRATEGY WOULD YOU RECOMMEND? |
PENETRATION |
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SOME RETAILERS ADVERTISE ITEMS AT A VERY LOW PRICE OR EVEN BELOW COST JUST TO GET CUSTOMERS INTO THE STORE. WHAT STRATEGY IS THIS? |
LOSS LEADER PRICING |
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THE ROBINSON- PATMAN ACT DOES NOT INCLUDE REGULATIONS THAT _________. |
PROTECT FINAL CONSUMERS |
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BY USING ________ A COMPANY DELIBERATELY SETS A LOW PRICE W THE INTENTION OF DRIVING ITS COMPETITION OUT OF BUSINESS. |
PREDATORY PRICING |
