FSM EXAM 2 QUESTIONS AND ANSWERS

A pricing that is based on how many people want the product is known as a market-driven pricing. b competition pricing. c price-value pricing. d demand-driven pricing. - Answer- d demand-driven pricing. A customer's opinion of a product's worth to him- or herself is known as a worth perception. b value perception. c value relationship. d price perception. - Answer- b value perception. When customers begin to decide to purchase a substitute, patronize the competition, or eat at home, it is an indication that menu prices at a restaurant have: a become lower than the competition's prices. b are within the acceptable price range. c become too low to indicate value. d moved outside the acceptable price range. - Answer- d moved outside the acceptable price range. Pricing a soda by using a 15% food cost, and a tuna steak by using a 30% food cost are examples of a pricing differences. b value perception. c mar