95%(149)142 out of 149 people found this document helpful
This preview shows page 10 - 11 out of 11 pages.
15. Which of the following pricing strategies involves the temporary reduction of prices on a patterned or systematic basis?a.Periodic discountingb.Bait pricingc.Bundle pricingd.Customary pricinge.Random discounting16. Which pricing strategy does an advertisement with statements such as “20 to 50 percent off” or “up to 50 percent off” use?17. _____ refers to charging the highest possible price that buyers who most desire a product willpay.18. Price skimming provides the most flexible base price in the _____ stage of the product lifecycle.19. Which of the following is a feature of a penetration pricing strategy?a.Pricing the basic product in a product line low, while pricing related items higherb.Setting prices below those of competing brands to enter a market and gain a significant market share quicklyc.Charging the highest possible price that buyers who most desire a product will payd.Pricing the highest-quality or most versatile products higher than other models in
the product line
Reducing prices of products temporarily during low-sales periods
20. Pricing the basic product in a product line low, while pricing related items higher is known as _____.21. _____ involves pricing an item in a product line low with the intention of selling a higher-priced item in the line.22. When an organization sets a limited number of prices for selected groups or lines of merchandise, it is said to be using _____.23. Simply Fest, a fast-food outlet, offers a special menu that combines fries, burgers, and a soft drink at a price lower than the combined prices of each item priced separately. This pricing strategy is known as _____.a.bundle pricingb.reference pricingc.price liningd.bait pricinge.penetrative pricing24. Some marketers price certain items at figures such as $99.95 instead of $100, leading consumers to believe that the product is a bargain. This type of pricing strategy is known as _____.25. Setting prices at an artificially high level to convey a quality image is a feature of _____