BUSML 3250 Final Exam Review Questions Solved 100% Correct
1 view 0 purchase
Course
BUSML 3250
Institution
BUSML 3250
What is product line pricing? - Setting the price steps between various products in a
product line based on cost differences between the products, customer evaluations of
different features, and competitor's prices
What is optional-product pricing? - The pricing of optional or accessory products...
BUSML 3250 Final Exam Review
Questions Solved 100% Correct
What is product line pricing? - ✔Setting the price steps between various products in a
product line based on cost differences between the products, customer evaluations of
different features, and competitor's prices
What is optional-product pricing? - ✔The pricing of optional or accessory products along
with a main product
What is captive product pricing? - ✔Setting a price for products that must be used along
with a main product
What is by-product pricing? - ✔Setting a price for by-products in order to make the
main product's price more competitive
What is product bundle pricing? - ✔Combining several products and offering the bundle at
a reduced price
What are reference prices? - ✔Prices that buyers carry in their minds and refer to when
they look at a given product
What is a price image? - ✔Global impression of the overall price level of a store, evaluation
in context - relative to other stores
What is everyday low pricing? - ✔It is charging a constant, everyday low price with few or
no temporary price discounts
,What is high-low pricing? - ✔It involves charging higher prices on an everyday basis
but running frequent promotions to lower prices temporarily on selected items
What is odd-even pricing? - ✔A psychological pricing tactic in which numeric value is
utilized to affect the customer's perception of product value
What is price-quality relationship? - ✔It is when consumers use price as an indicator of quality
What is loss-leader pricing? - ✔Setting prices near or below cost in order to attract
customers to a store
What is horizontal price fixing? - ✔Illegal to agree on a price within a group of
manufacturers or retailers or wholesalers
What is vertical pricing fixing? - ✔Retailers cannot be forced to adhere to minimum retail
prices and manufacturers/wholesalers CAN set maximum prices if it doesn't adversely
impact competition
What is price discrimination? - ✔Manufactureres/wholesalers cannot charge a different
price to different retailers, discounts must be equitable
What is price advertising? - ✔There are guidelines/laws regarding advertising price reductions
What is predatory pricing? - ✔It means that company sets a very low price for the purpose
of driving competitors out of business
What are direct marketing channels? - ✔A marketing channel that has no intermediary levels
, What are examples of direct marketing channels? - ✔brick and mortar, telemarketing,
e-marketing, direct sales force
What are indirect marketing channels? - ✔A marketing channel that involves at least
one intermediary between a seller and end-user
What is channel conflict? - ✔Disagreements among marketing channel members on
goals, roles, and rewards
What is horizontal conflict? - ✔Conflict that occurs among firms at the same level of
the channel
What is vertical conflict? - ✔Conflict between different levels of the same channel
What is marketing channel design? - ✔It is designing effective marketing channels by
analyzing customer needs, setting channel objectives, identifying major channel
alternatives, and evaluating those alternatives
What are the types of distribution? - ✔Intensive, exclusive, selective
What is intensive distribution? - ✔Stocking the product in as many outlets as possible (ex:
soda )
What is exclusive distribution? - ✔Giving a limited number of dealers the exclusive right
to distribute the company's products in their territories
What is selective distribution? - ✔The use of more than one but fewer than all of
the intemediaries who are willing to carry the company's products
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller KenAli. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $12.99. You're not tied to anything after your purchase.
