Pricing Products And Services

This question bank verified by Studydeets
All Questions
Filter by:
Question 1
Free
Multiple Choice

There were a number of factors the management team for Strait Crossing Bridge Ltd.(SCBL)had to consider when determining what price to charge users of the Confederation Bridge.Some of the factors that they had to consider were: (1)what they offered to customers,(2)type of user,and (3) ________________ .

Choose correct answer/s
A

the weather

B

number of customers and the usage rate

C

the time of day

D

other toll bridges

Check answer
Question 2
Free
Multiple Choice

When setting the toll charge for the Confederation Bridge,the pricing strategy included:

Choose correct answer/s
A

capital costs, operating costs, and long-range profits

B

the length of the bridge

C

length of the bridge and capital costs

D

time of day

Check answer
Question 3
Free
Multiple Choice

While many daily users of the SCBL complain about the high costs,many tourists have no qualms about paying to use the bridge because of the:

Choose correct answer/s
A

experience in driving across.

B

currency conversion rate.

C

time compared to the ferry.

D

24/7 availability.

Check answer
Question 4
Free
Multiple Choice

Which of the following is a special kind of price?

Choose correct answer/s
A

operating costs

B

liquidity

C

equitable medium

D

college tuition

Check answer
Question 5
Free
Multiple Choice

Which of the following is a special kind of price?

Choose correct answer/s
A

operating costs

B

liquidity

C

equitable medium

D

rent for an apartment

Check answer
Question 6
Multiple Choice

What were the first two questions that the bridge builders of the PEI Confederation Bridge wanted to know in order to accurately determine their pricing for using the bridge?

Choose correct answer/s
A
how many customers and how often
B
how many customers and how much they are willing to spend
C
how many day-to-day customers and how many tourists
D
how often and how much they are willing to spend
To unlock the question
Question 7
Multiple Choice

When Panera Bread opened Panera Cares Cafes,they implemented a pricing model that allowed consumers to pay what they wished for their items.The goal of this cafe was to still be:

Choose correct answer/s
A
self-sustaining
B
profit maximizing
C
profit minimizing
D
a charity service
To unlock the question
Question 8
Multiple Choice

When Panera Bread opened Panera Cares Cafe,they implemented a pricing model that allowed consumers to pay what they wished for their items.This pricing model is referred to as:

Choose correct answer/s
A
self-sustaining
B
profit maximizing
C
profit minimizing
D
name your price
To unlock the question
Question 9
Multiple Choice

When Radiohead launched their 'In Rainbows' album online,they allowed consumers to download it for free or download it for a donation the consumer set themselves.This type of pricing is referred to as:

Choose correct answer/s
A
self-sustaining
B
profit maximizing
C
profit minimizing
D
pay what you think it is worth
To unlock the question
Question 10
Multiple Choice

From a marketing viewpoint,price is _____ exchanged for the ownership or use of a good or service.

Choose correct answer/s
A
money or other considerations (including goods but not intangibles and services)
B
money or other considerations (including other goods and services)
C
money exclusively earmarked for the transaction
D
what is recognized as barter within a particular culture
To unlock the question
Question 11
Multiple Choice

Two individuals at a spice market in Marrakesh swap cinnamon in exchange for saffron,where both sides are equally happy with the arrangement.This occurred rather than exchanging:

Choose correct answer/s
A
value.
B
perceptions.
C
money.
D
promises.
To unlock the question
Question 12
Multiple Choice

Shell Oil recently exchanged one million pest-control devices for sugar from a Caribbean country.This practice is referred to as:

Choose correct answer/s
A
commission.
B
price.
C
barter.
D
tariff.
To unlock the question
Question 13
Multiple Choice

Wilkinson Sword exchanged some of its knives for advertising used to promote its razor blades.This practice is referred to as:

Choose correct answer/s
A
commission.
B
price.
C
barter.
D
tariff.
To unlock the question
Question 14
Multiple Choice

The practice of exchanging goods and services for other goods and services rather than for money is called:

Choose correct answer/s
A
barter.
B
pricing substitution.
C
debt restructuring.
D
value-pricing.
To unlock the question
Question 15
Multiple Choice

Patty O'Rourke hired an attorney to represent her in a court case involving an auto accident.The attorney charged O'Rourke a fee for his services.Terry Thomas needed a haircut-the local stylist charged him $12 for her services.Aaron Mathison mowed his neighbour's lawn; in exchange,the neighbour rototilled Mathison's garden.The attorney fees paid by O'Rourke,the $12 charged by the hair stylist,and exchange of lawn mowing for garden tilling are examples of:

Choose correct answer/s
A
price.
B
barter.
C
fee setting.
D
unfair market exchanges.
To unlock the question
Question 16
Multiple Choice

The price equation formula is price equals list price minus incentives and allowances plus:

Choose correct answer/s
A
salaries.
B
commissions.
C
trade-ins.
D
extra fees.
To unlock the question
Question 17
Multiple Choice

A company that manages apartments decides to buy 17 new dishwashers at a list price of $750 each as replacements for old dishwashers in a small apartment complex it owns.Because the company is buying more than 10 dishwashers,it is eligible for a $150 per unit quantity discount.Financing charges total $20 per unit.The company gets $10 per dishwasher for the 17 dishwashers traded in.What is the actual price the company will pay for each dishwasher?

Choose correct answer/s
A
$590
B
$600
C
$610
D
$730
To unlock the question
Question 18
Multiple Choice

After purchasing a bushel of 'C' grade apples for $10,which were on sale,you get home and realize that they are of excellent quality,and should have been graded 'B+' apples instead.You feel you received great benefits in comparison to the price you paid.This ratio is called:

Choose correct answer/s
A
the price-quality relationship.
B
prestige pricing.
C
value-added pricing.
D
value.
To unlock the question
Question 19
Multiple Choice

Value-pricing is:

Choose correct answer/s
A
the ratio of perceived benefits to price.
B
the practice of simultaneously increasing product or service benefits and maintaining or decreasing price.
C
the practice of simultaneously increasing product and service benefits and increasing price.
D
the ratio of price to perceived benefits.
To unlock the question
Question 20
Multiple Choice

A new special on this week at your local dress shop is a 2 for 1 dress special with free tailoring.Last week,it was regular pricing on everything and tailoring was being charged $25.00 a dress.The marketers at this dress shop are engaging in:

Choose correct answer/s
A
revenue sharing
B
diminishing returns
C
quantitative analysis
D
value-pricing
To unlock the question