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UWEC Marketing 330 Exam 4 (Final) fully solved A+ rated
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UWEC Marketing 330 Exam 4 (Final) fully solved A+ rated
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UWEC Marketing 330 Exam 4 (Final)Price - correct answer ✔✔is the amount of money charged for a product. It is the sum of all values that
consumers give up in order to gain the benefits of having or using a good or service
AKA: the value placed on what is exchanged
- most flexible
- relates directly to revenue
-psychological impact
Customer perceptions set the VALUE
Discounting - correct answer ✔✔Quantity Discounts
Cash Discounts
Seasonal Discounts
Vendor Allowances
Quantity Discounts - correct answer ✔✔Cumulative and Noncumulative discounts
Cash Discounts - correct answer ✔✔reduced invoice cost if the buyer pays prior to the end of the
discounts
encouraged buyers to pay before the discount period ends
Seasonal Discounts - correct answer ✔✔designed to spur buyers into purchasing items early
Vendor Allowances - correct answer ✔✔Lowers the final cost in return for specific behavior
-advertising allowances
-slotting allowances
Organizational Pricing - correct answer ✔✔Discounting
, Geographic pricing
Cost-Based pricing
Geographic Pricing - correct answer ✔✔uniform pricing
zone pricing
freight absorption
F.O.B.
Uniform Pricing - correct answer ✔✔the seller pays the freight charges and bills the purchaser an
identical flat freight charge
Zone Pricing - correct answer ✔✔areas are divided into zones and a flat freight rate is charged to each
zone
prices can vary depending on zone
Freight Absorption - correct answer ✔✔the seller pays for all or part of the freight charges and does not
pass them on the buyer
the price of shipping is build into the cost
FOB Origin - correct answer ✔✔The buyer absorbs the freight cost from the shipping point
Where the responsibility for the product switched from seller to buyer
Cost Based Pricing - correct answer ✔✔adds the standard mark up to the cost of the product
Competition Based Pricing - correct answer ✔✔Company sets prices based on what competitors are
charging or what they think competitors will charge
Skimming - correct answer ✔✔Setting a high price for a new product to skim maximum revenues from
the target market
once the max is reached there is a small price drop to get the next set
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