MKTG 3213 - Exam Two: Chapter 9 fully
solved already passed (2)
false - correct answer ✔✔T or F: More than 90% of Fortune 500 companies have a full-time job
dedicated to pricing.
true - correct answer ✔✔T or F: Value-based pricing will always be more profitable than cost-based
pricing.
companies fight with price only - correct answer ✔✔Which of these does not happen in a "smart
industry"?
barriers to entry are increased - correct answer ✔✔Which of these does not happen in a "dumb
industry"?
Knowing how your industry behaves - correct answer ✔✔What is the first step in strategic pricing?
Price elasticity - correct answer ✔✔What is defined as responsiveness of demand to changes in price?
Breakeven point - correct answer ✔✔Assume that Netflix has introduced a new bundle service for their
streaming services. Bundle 1 includes a base price of $9 to cover 25 hours of streaming for the month
and variable price of $0.10 for every 30 minutes over that 25 hours. Bundle 2 includes no base price, but
a variable price of $0.25 for every 30 minutes of streaming per month. When a consumer attempts to
decide which bundle to use, what is he or she determining?
false - correct answer ✔✔T or F: You do not need to understand margin and markup if you are using
value-based pricing.
greater - correct answer ✔✔A change in price in an elastic market is likely to show _______ change in
demand when compared to a similar change in an inelastic market.
solved already passed (2)
false - correct answer ✔✔T or F: More than 90% of Fortune 500 companies have a full-time job
dedicated to pricing.
true - correct answer ✔✔T or F: Value-based pricing will always be more profitable than cost-based
pricing.
companies fight with price only - correct answer ✔✔Which of these does not happen in a "smart
industry"?
barriers to entry are increased - correct answer ✔✔Which of these does not happen in a "dumb
industry"?
Knowing how your industry behaves - correct answer ✔✔What is the first step in strategic pricing?
Price elasticity - correct answer ✔✔What is defined as responsiveness of demand to changes in price?
Breakeven point - correct answer ✔✔Assume that Netflix has introduced a new bundle service for their
streaming services. Bundle 1 includes a base price of $9 to cover 25 hours of streaming for the month
and variable price of $0.10 for every 30 minutes over that 25 hours. Bundle 2 includes no base price, but
a variable price of $0.25 for every 30 minutes of streaming per month. When a consumer attempts to
decide which bundle to use, what is he or she determining?
false - correct answer ✔✔T or F: You do not need to understand margin and markup if you are using
value-based pricing.
greater - correct answer ✔✔A change in price in an elastic market is likely to show _______ change in
demand when compared to a similar change in an inelastic market.
