kotlerchapter11.docx

kotlerchapter11.docx

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kotlerchapter11

Chapter11PricingStrategies

1）Acompanysetsnotasingleprice,butrathera________thatcoversdifferentitemsinitslinethatchangeovertimeasproductsmovethroughtheirlifecycles.

A）pricingby-product

B）pricingstructure

C）pricingloop

D）pricingcycle

E）pricingbundle

Answer:

B

2）Companiesfacingthechallengeofsettingpricesforthefirsttimecanchoosebetweentwobroadstrategies:

market-penetrationpricingand________.

A）market-levelpricing

B）market-competitivepricing

C）market-skimmingpricing

D）market-pricelining

E）market-pricefilling

Answer:

C

3）Ofthefollowing,whichstatementwouldNOTsupportamarket-skimmingpolicyforanewproduct?

A）Theproduct'squalityandimagesupportitshigherprice.

B）Enoughbuyerswanttheproductsatthatprice.

C）Competitorsarenotabletoundercutthehighprice.

D）Competitorscanenterthemarketeasily.

E）CandD

Answer:

D

4）Afirmisusing________whenitchargesahigh,premiumpriceforanewproductwiththeintentionofreducingthepriceinthefuture.

A）priceskimming

B）trialpricing

C）valuepricing

D）market-penetrationpricing

E）prestigepricing

Answer:

A

5）________pricingistheapproachofsettingalowinitialpriceinordertoattractalargenumberofbuyersquicklyandwinalargemarketshare.

A）Market-skimming

B）Market-penetration

C）Below-market

D）Value-based

E）Leader

Answer:

B

6）AccentSoftwarefacestheconditionsbelow,allofwhichsupportAccent'suseofamarket-penetrationpricingstrategyEXCEPTthat________.

A）themarketishighlypricesensitive

B）productionanddistributioncostswillfallassalesvolumeincreases

C）theproduct'squalityandimagesupportahighprice

D）alowpricewouldhelpkeepoutthecompetition

E）AandC

Answer:

C

7）Whichofthefollowingisareasonthatamarketerwouldchooseapenetrationpricingstrategy?

A）toensurethecompanyhastheabilitytoincreasepricesoncedemanddecreases

B）tofocusontherapidachievementofprofitobjectives

C）toappealtodifferentconsumersegmentswithdifferentlevelsofpricesensitivity

D）tocreatemarketsforhighlytechnicalproducts

E）todiscouragecompetitionfromenteringthemarket

Answer:

E

8）Companiesusuallydevelop________ratherthansingleproducts.

A）productfamilies

B）productlines

C）productgroupings

D）productbrands

E）productimages

Answer:

B

9）Amarketermustbefamiliarwiththefivemajorproductmixpricingsituations.WhichofthefollowingisNOToneofthem?

A）productlinepricing

B）optional-productpricing

C）captive-productpricing

D）unbundledproductpricing

E）by-productpricing

Answer:

D

10）Achallengeformanagementinproductlinepricingistodecideonthepricestepsbetweenthe________.

A）variousproductsinaline

B）productmixes

C）productgroupings

D）productlines

E）varioustargetmarkets

Answer:

A

11）Whenusingpricesteps,thesellermustestablishperceived________thatsupportthepricedifferences.

A）nonpricecompetitions

B）qualitydifferences

C）quantitylevels

D）images

E）strategies

Answer:

B

12）Manyproducerswhousecaptive-productpricingsetthepriceofthemainproduct________andset________onthesuppliesnecessarytousetheproduct.

A）low;lowmarkups

B）high;lowmarkups

C）low;highmarkups

D）high;highmarkups

E）moderately;moderatemarkups

Answer:

C

13）Whenamusementparksandmovietheaterschargeadmissionplusfeesforfoodandotherattractions,theyarefollowinga（n）________pricingstrategy.

A）by-product

B）optional-product

C）captive-product

D）skimming

E）penetration

Answer:

C

14）HiPointTelephoneCompanyusestwo-partpricingforitslong-distancecallcharges.Becausethisisaservice,thepriceisbrokenintoafixedrateplusa________.

A）fixedrateusage

B）variableusagerate

C）standardusagerate

D）marketusagerate

E）noneoftheabove

Answer:

B

15）Companiesinvolvedindecidingwhichitemstoincludeinthebasepriceandwhichtoofferasoptionsareengagedin________pricing.

A）productbundle

B）optional-product

C）captive-product

D）by-product

E）skimming

Answer:

B

16）Keepinginmindthatasellermustsellby-productsatapricethatcoversmorethanthecostofstoringanddeliveringthem,whichofthefollowingwillby-productpricingpermitasellertodo?

A）increasethemainproduct'sprice

B）makeextraprofit

C）reducethemainproduct'sprice

D）noneoftheabove

E）BandC

Answer:

E

17）Withproductbundlepricing,sellerscancombineseveralproductsandofferthebundle________.

A）asaworkingunit

B）atareducedprice

C）asacompleteself-servicepackage

D）asarewardtoloyalcustomers

E）assegmentedpricing

Answer:

B

18）Whatisamajoradvantageofproductbundlepricing?

A）Itcanpromotethesalesofproductsconsumersmightnototherwisebuy.

B）Itoffersconsumersmorevalueforthemoney.

C）Itcombinesthebenefitsoftheotherpricingstrategies.

D）Itprovidesamorecompleteproductexperienceforconsumers.

E）Alloftheabove.

Answer:

A

19）WhichofthefollowingisNOTapriceadjustmentstrategy?

A）segmentedpricing

B）promotionalpricing

C）freesamples

D）geographicalpricing

E）seasonalpricing

Answer:

C

20）ServiceIndustries,Inc.,planstoofferaprice-adjustmentstrategyinthenearfuture.TheycouldconsidereachofthefollowingEXCEPT________.

A）discountandallowancepricing

B）segmentedpricing

C）physiologicalpricing

D）promotionalpricing

E）locationpricing

Answer:

C

21）Aquantitydiscountisapricereductiontobuyerswhopurchase________.

A）frequently

B）largevolumes

C）closeouts

D）inferiormerchandise

E）superiormerchandise

Answer:

B

22）Tradeorfunctionaldiscountsareofferedbymanufacturerstowhichofthefollowing?

A）channelmemberswhoperformtasksthatthemanufacturerwouldotherwisehavetoperform

B）consumerswhoearnapricereductionforbuyinginbulk

C）intermediariessuchasfinancinginstitutionsasacostofdoingbusinesswiththem

D）manufacturersthatagreetoexclusivedistributioncontracts

E）thegovernmentmarketandotherorganizationsthatrequirebidproposals

Answer:

A

23）Whichofthefollowingisanexampleofacashdiscount?

A）2/10,net30

B）$5.00withatwo-pack

C）afreecasewhenyoubuy12

D）whenyoupaycashandtaketheproductwithyou

E）noneoftheabove

Answer:

A

24）WhenGeneralMotorsprovidespaymentsorpricereductionstoitsnewcardealersasrewardsforparticipatinginadvertisingandsalessupportprograms,itisgrantinga（n）________.

A）tradediscount

B）functionaldiscount

C）allowance

D）promotionalallowance

E）tradecredit

Answer:

D

25）Quantitydiscountsprovideanincentivetothecustomertobuy________.

A）moreproductsorservicesfromavarietyofsellers

B）lessfromanothercompetitor

C）morefromonegivenseller,ratherthanfrommanydifferentsources

D）morethanheorsheneeds

E）bundledmerchandise

Answer:

C

26）Bydefinition,thistypeofpricingisusedwhenafirmsellsaproductorserviceattwoormoreprices,eventhoughthedifferenceinpriceisnotbasedondifferencesincost.

A）segmentedpricing

B）variablepricing

C）flexiblepricing

D）cost-pluspricing

E）referencepricing

Answer:

A

27）Whenafirmvariesitspricebytheseason,month,day,orevenhour,itisusing________pricing.

A）revenuemanagement

B）penetration

C）variable

D）time

E）value-added

Answer:

D

28）Airlines,hotels,andrestaurantscallsegmentedpricing________.

A）timepricing

B）yieldmanagement

C）locationpricing

D）segmented

E）servicepricing

Answer:

B

29）Whichofthefollowingconditionsshouldexistforsegmentedpricingtobeaneffectivestrategy?

A）Themarketmustbeabletobesegmented.

B）Thesegmentsmustshowdifferentdegreesofdemand.

C）Competitorscan'tundersellinthesegmentbeingchargedthehigherprice.

D）Alloftheabove.

E）Noneoftheabove.

Answer:

D

30）Consumersusuallyperceivehigher-pricedproductsas________.

A）notwithinreachofmostpeople

B）havingahigherquality

C）havinghighprofitmargins

D）popularbrands

E）beingintheintroductorystageoftheproductlifecycle

Answer:

B

31）Consumerusepricelesstojudgethequalityofaproductwhenthey________.

A）lackinformation

B）lackskillstousetheproduct

C）haveexperiencewiththeproduct

D）areshoppingforaspecialtyitem

E）cannotphysicallyexaminetheproduct

Answer:

C

32）MichaelandJohnbothownleatherjacketsandarecurrentlyshoppingfortwonewones.Theybothhavepricesinmindandrefertothemwhenshopping.Thesepricesaretermed________.

A）psychologicalprices

B）referenceprices

C）comparisonprices

D）pricepoints

E）skimmedprices

Answer:

B

33）Whichofthefollowingreferstothepricesthatabuyercarriesinhisorhermindandreferstowhenlookingatagivenproduct?

A）targetprices

B）referenceprices

C）promotionalprices

D）geographicalprices

E）dynamicprices

Answer:

B

34）Whenconsumerscannotjudgequalitybecausetheylacktheinformationorskill,pricebecomes________.

A）lessimportant

B）insignificant

C）animportantqualitysignal

D）theonlydriverofthepurchase

E）noneoftheabove

Answer:

C

35）Allofthefollowingaretypicalwaysareferencepricemightbeformedinabuyer'smindEXCEPT________.

A）notingcurrentprices

B）rememberingpastprices

C）assessingthebuyingsituation

D）comparingittoanewproduct

E）influencesfromsellers

Answer:

D

36）Whattypeofpricingisbeingusedwhenacompanytemporarilypricesitproductbelowthelistpriceorevenbelowcosttocreatebuyingexcitementandurgency?

A）segmentedprici