Which of the following statements describes an

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26. Which of the following statements describes an advantage of status quo pricing? a. Status quo pricing is derived from actual costs of manufacturing. b. Status quo pricing maintains the organization's differential advantage. c. Status quo pricing is active, not reactive. d. Status quo pricing causes price wars. e. Status quo pricing requires little planning. ANS: E Status quo pricing requires little planning because it involves just copying the competitions' pricing policies. PTS: 1 REF: 298 OBJ: 19-2 TYPE: Comp TOP: AACSB Reflective Thinking | TB&E Model Pricing 27. Although many factors can influence price, the primary determinants are: PTS: 1 REF: 298-299 OBJ: 19-3 TYPE: Def TOP: AACSB Reflective Thinking | TB&E Model Pricing 28. The quantity of a product that will be sold at various prices for a specified period is called: PTS: 1 REF: 299 OBJ: 19-3 TYPE: Def TOP: AACSB Reflective Thinking | TB&E Model Pricing 29. The price of the good or service is a key decision for a marketer because it most significantly and dir- ectly affects the product's:
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PTS: 1 REF: 299 OBJ: 19-3 TYPE: Comp TOP: AACSB Reflective Thinking | TB&E Model Pricing 30. Most demand curves slope: a. horizontally b. upward and to the right c. downward and to the left d. vertically e. downward and to the right ANS: E For most products when prices increase, demand will decrease. PTS: 1 REF: 299 OBJ: 19-3 TYPE: Comp TOP: AACSB Reflective Thinking | TB&E Model Pricing 31. The manager of a souvenir shop in Florida graphed the demand per week for fresh orange juice. The graph indicates a demand schedule that slopes downward and to the right. This graph indicates that the quantity of juice demanded increases as: PTS: 1 REF: 299 OBJ: 19-3 TYPE: App TOP: AACSB Reflective Thinking | TB&E Model Pricing
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  • Spring '10
  • Patterson
  • Supply And Demand, AACSB Reflective Thinking, TB&E Model Pricing

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