LESSON11Pricing Strategies Quiz_ Principles of Marketing - BUS201_503.pdf

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2/27/2021Pricing Strategies Quiz: Principles of Marketing - BUS201_5031 / 1 ptsQuestion 1Sam, a buyer for a small warehouse company, islooking to purchase a forklift from Caterpillar orKomatsu. He is looking for a reliable, narrowforklift to fit between the warehouses’ smalleraisles and that is a lower price. Sam doesn’tneed added-on services; he is well-versed inusing and maintaining large equipment. Heevaluates the forklift types and decides on aKomatsu. Sam chooses the Komatsu for itsperceived reliability and it is $1500 less than theCaterpillar forklift. Which approach that Komatsutook was a success for Sam as a customer?Komatsu reduced the value added benefits andthose benefits competed well head-to-head withCaterpillar’s value added benefitsKomatsu diminished the value-added perceivedbenefits to meet and exceed customerexpectations
1/9Komatsu reduced its perceived costs enough toundercut its competitors perceived valuesCorrect!Correct!1 / 1 ptsQuestion 2
2/27/2021Pricing Strategies Quiz: Principles of Marketing - BUS201_503An electronics store introduces three new typesof music players to its customers. Each of thenew music players are priced at $99, $79, and$59. Which psychological pricing approach isthe store using to price the music players?Correct!Correct!
2/9inviting price comparisonsproviding pricing options1 / 1 ptsQuestion 3A dating website offers a deluxe package of$200 for 12 months of matches or a classicpackage of $50 for one month of matches. Mostcustomers don’t want the higher cost or theydon’t think they will use the site for a year andend up purchasing the classic package. Thecustomers sign up feeling like they just saved$150 and they still have full access. Which typeof psychological pricing was the cloud storagecompany using?

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Term
Winter
Professor
GIBBS
Tags
Marketing, Pricing, Komatsu

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