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chapter 13 - MM - Marketing Defined, Explained, Applied, 2e...

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Marketing Defined, Explained, Applied,2e (Levens)Chapter 13Pricing Strategies1) ________ is the exchange value of a product or service in the marketplace.A) UtilityB) TangibilityC) PriceD) WageE) SalaryAnswer:C
2) Of the elements of the marketing mix, ________ is most closely linked withrevenue.A
3) It is most accurate to say that fair prices are those consumers perceive as ________.E
4) The price-quality ratio describes which of the following relationships?D
5) Under which market structure does a single seller have the most control overpricing?A) monopolyB) oligopolyC) monopolistic competitionD) pure competitionE) natural competition
6) In a(n) ________ market structure, a small group of companies share pricing powersufficient to set the marketplace price for their products or services.
E) natural competitionAnswer:B7) In a(n) ________ market structure, there are several sellers, each having slightlydifferent products with unique customer benefits.C
8) In a(n) ________ market structure, there are many sellers with very similarproducts who have no significant pricing power.D
9) ________ is a company's ability to set a high price without a significantdeterioration in market share.A) Variable costB) Pricing powerC) Target costD) Fixed costE) Unit costAnswer:B
10) Fixed costs ________ as the number of units produced increases.D
11) Costs that are directly attributable to the production of a product or delivery of aservice are referred to as ________.B

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Term
Spring
Professor
frahat

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