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MKTG 3213- EXAM #2- CH. 9 questions with verified solutions (2)
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MKTG 3213- EXAM #2- CH. 9 questions with verified solutions (2)
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MKTG 3213- EXAM #2- CH. 9 questionswith verified solutions (2)
What is the definition of price? - correct answer ✔✔what is exchanges for the product, service or idea
--- is not about what we put into our product, it's what our customers get out of it. - correct answer
✔✔value
The 'value' created of a product or service is determined from the perspective of the : - correct answer
✔✔customer
Small changes in price do not have a very large impact on bottom line profits - correct answer ✔✔false
which of these does not happen in a smart industry? - correct answer ✔✔companies fight with price
only
what is the first step in strategic pricing - correct answer ✔✔knowing how your industry behaves
what is the key difference between cost-based pricing and value-based pricing? - correct answer
✔✔where you start the process
Value -based pricing will always be more profitable than cost-based pricing. - correct answer ✔✔true
What is price skimming? - correct answer ✔✔setting a high price for a new product to skim maximum
revenues
What us dynamic pricing? - correct answer ✔✔variable rate for each customer
What is flat-rate pricing? - correct answer ✔✔single rate per time period
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