Chapter 11

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Question 1
1 out of 1 points

Demand influences on _______ decisions concern primarily the nature of the target market and expected reactions of consumers to a given price or change in price.

Selected Answer:
 
Pricing
Correct Answer:
 
Pricing

Question 2
1 out of 1 points

The __________ factors that are particularly important for pricing decisions are expected consumption rate of potential buyers, location of potential buyers, and position of potential buyers.

Selected Answer:
 
Demographic
Correct Answer:
 
Demographic

Question 3
1 out of 1 points

__________ factors related to pricing concern how consumers will perceive prices or price changes.

Selected Answer:
 
Psychological
Correct Answer:
 
Psychological

Question 4
1 out of 1 points

While psychological factors have a significant effect on the success of a pricing strategy, answers to the questions that marketing managers have, may require ___________.

Selected Answer:
 
Considerable marketing research
Correct Answer:
 
Considerable marketing research

Question 5
1 out of 1 points

Prestige pricing, odd pricing and ____________ are three types of psychological pricing strategy.

Selected Answer:
 
Bundle pricing
Correct Answer:
 
Bundle pricing

Question 6
1 out of 1 points

__________ is affected by both demographic and psychological factors.

Selected Answer:
 
Price elasticity
Correct Answer:
 
Price elasticity

Question 7
1 out of 1 points

Price elasticity is a measure of consumer's price sensitivity, which is estimated by dividing relative changes in the quantity sold by the _____________.

Selected Answer:
 
Relative changes in price
Correct Answer:
 
Relative changes in price

Question 8
1 out of 1 points

Price elasticity can be estimated from historical data or from __________ data across sales districts.

Selected Answer:
 
Price/quantity
Correct Answer:
 
Price/quantity

Question 9
1 out of 1 points

Price elasticity can be ___________ by sampling a group of consumers from the target market.

Selected Answer:
 
Estimated
Correct Answer:
 
Estimated

Question 10
1 out of 1 points

Two factors that relate to the supply influences on pricing decisions are _________________.

Selected Answer:
 
Cost and nature of the product
Correct Answer:
 
Cost and nature of the product

Question 11
1 out of 1 points

Pricing objectives should be derived from overall _____________, since it is traditionally assumed that business firms operate to maximize profits in the long run.

Selected Answer:
 
Marketing objectives
Correct Answer:
 
Marketing objectives

Question 12
1 out of 1 points

The ______________ does NOT provide the operating marketing manager with a single, unequivocal guideline for selecting price.

Selected Answer:
 
Profit maximization norm
Correct Answer:
 
Profit maximization norm

Question 13
1 out of 1 points

Research has found that the most common pricing objectives are pricing to achieve a target return of investment, stabilization of price and margin, ____________, and pricing to meet or prevent competition.

Selected Answer:
 
Pricing to achieve a target market share
Correct Answer:
 
Pricing to achieve a target market share

Question 14
1 out of 1 points

The price of a product usually must cover costs of production, promotion, and _______________.

Selected Answer:
 
Distribution
Correct Answer:
 
Distribution

Question 15
1 out of 1 points

The basic variations in cost-oriented pricing are mark-up pricing, cost-plus pricing and ______________.

Selected Answer:
 
Rate-of-return pricing
Correct Answer:
 
Rate-of-return pricing...
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