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Strategic Mkt Pricing 402 Midterm Exam

1465 words - 6 pages

Question 1
5 out of 5 points
Correct
The purpose of strategic pricing is to _____.
Answer
Selected Answer:
improve profits by capturing more value rather than making more sales
Correct Answer:
improve profits by capturing more value rather than making more sales
Question 2
5 out of 5 points
Correct
To create value in a product and price it profitably, financial management must choose to _____.
Answer
Selected Answer:
incur costs to make only profitable products given their value to the targeted customer
Correct Answer:
incur costs to make only profitable products given their value to the targeted customer
Question 3
5 out of 5 points
Correct
Pricing that ...view middle of the document...

Answer
Selected Answer:
reference value plus differentiation value
Correct Answer:
reference value plus differentiation value
Question 8
5 out of 5 points
Correct
In segmentation, fences are _____.
Answer
Selected Answer:
polices that customers must follow to qualify for pricing discounts
Correct Answer:
polices that customers must follow to qualify for pricing discounts
Question 9
5 out of 5 points
Correct
Before customer value drivers can be translated into quantified estimates of value, data must be collected, analyzed, and evaluated to determine _____.
Answer
Selected Answer:
competitive reference prices
Correct Answer:
competitive reference prices
Question 10
5 out of 5 points
Correct
The greatest impact on successful pricing above the reference value of a product is _____.
Answer
Selected Answer:
the degree to which an offer is differentiated in terms of customer need
Correct Answer:
the degree to which an offer is differentiated in terms of customer need
Question 11
0 out of 5 points
Incorrect
Though a product may not create any specific tangible benefits, it may create innate satisfaction for the customer. The product therefore has _____.
Answer
Selected Answer:
use value
Correct Answer:
psychological value
Question 12
5 out of 5 points
Correct
The number of stages needed to segment a marketplace depends on _____.
Answer
Selected Answer:
the number of critical drivers that create substantial differences in value delivery among customers
Correct Answer:
the number of critical drivers that create substantial differences in value delivery among customers
Question 13
5 out of 5 points
Correct
Offering a product at a single price to all customers creates a large trade-off. One such trade off might be _____.
Answer
Selected Answer:
that some customers would pay much less than they otherwise would or could pay for the product
Correct Answer:
that some customers would pay much less than they otherwise would or could pay for the product
Question 14
5 out of 5 points
Correct
_____ are adjustments to price to encourage sales in economicaly depressed markets or in markets with high competition.
Answer
Selected Answer:
Purchase location fences
Correct Answer:
Purchase location fences
Question 15
5 out of 5 points
Correct
_____ is strategy that enables sellers to charge different customers different price levels for the same products or services based fixed criteria for which customers must qualify for lower prices is _____.
Answer
Selected Answer:
A price fence
Correct Answer:
A price fence
Question 16
5 out of 5 points
Correct
Though in principle it is always better for a supplier to have more segmentation for a product or service, but in practice this is difficult to maintain because _____.
Answer
Selected Answer:
customers are, in principle, always trying to undermine price structure to obtain goods...

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