mar 216 quiz

Question 1
(2 points)
Vac “N’ Sew will give customers $100 for a used vacuum cleaner, regardless of condition, when they purchase a new vacuum or sewing machine. This essentially reduces the price by $100. What is this type of discount called?
functional discount
captive product discount
seasonal discount
trade-in allowance
by-product allowance
Question 2
With product bundle pricing, sellers can combine several products and offer the bundle ________.
as a working unit
at a reduced price
as a complete self-service package
as a reward to loyal customers
as segmented pricing
Question 3
________ refers to selling below cost with the intention of punishing a competitor or gaining higher long-run profits by putting competitors out of business.
Oligopolistic pricing
Captive pricing
Dynamic pricing
Zone pricing
Predatory pricing
Question 4
Qriosity Inc. comes out with a new antivirus program and prices it at half price to attract buyers. The company is using ________.
marketing-skimming pricing
market-penetration pricing
value-added pricing
reference pricing
promotional allowances
Question 5
A company sets not just a single price, but rather a ________ that covers different items in its line that change over time as products move through their life cycles.
pricing by-product
pricing structure
pricing loop
pricing cycle
pricing bundle
Question 6
The relationship between the price charged and the resulting demand level can be shown as the ________.
demand curve
supply curve
cost curve
break-even chart
inflation rate
Question 7
When a manufacturer offers a ________, customers buy products from manufacturers’ dealers within a specified time period and the manufacturer sends the customer a check.
cash rebate
markup price
dealer reduction
flash sale
Question 8
Rent, electricity, and executive salaries are examples of ________ costs.
Question 9
________ prices are the prices that a buyer carries in his/her mind and refers to when looking at a given product.
Captive product
Question 10
________ pricing is the approach of setting a low initial price in order to attract a large number of buyers quickly and win a large market share.
Question 11
Under ________, the market consists of a few large sellers who are highly sensitive to each other’s pricing and marketing strategies.
pure competition
monopolistic competition
oligopolistic competition
a pure monopoly
pure monopsony
Question 12
Producers use captive product pricing to set the price of the main product ________ and set ________ on the supplies necessary to use the product.
low; low markups
high; low markups
low; high markups
high; high markups
moderately; moderate markups
Question 13
Which of the following is a reason for a company to raise its prices?
to address the issue of overdemand for a product
to win a larger share of the market
to use excess capacity
to boost sales volume
to balance out decreasing costs
Question 14
If Dell charges the same price for delivery of its product to any customer that is located within the Great Lakes states, the company is using ________.
psychological pricing
promotional pricing
zone pricing
uniform-delivered pricing
Question 15
Value-based pricing is the reverse process of ________ pricing.
variable cost-based
equity value-based
Question 16
Consumers use price less to judge the quality of a product when they ________.
lack information
lack skills to use the product
have experience with the product

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