Exam (elaborations)
BUSI 520 Quiz 4. Questions & Answers (Graded A)
- Course
- Institution
questions with answers
[Show more]
Seller
Follow
BenMaisonBettergrades25
Content preview
Liberty University BUSI 520 Quiz 4. Questions &Answers (Graded A)
Attempt Score 100 out of 100 points
Question 1
2 out of 2 points
________ pricing takes into account a host of inputs, such as the buyer's image of the product
performance, the channel deliverables, the warranty quality, customer support, and attributes
such as the supplier's reputation, trustworthiness, and esteem.
Selected Answer: Perceived-value
Question 2
2 out of 2 points
In markets that are characterized by products that are highly homogeneous, how should a firm
react to a competitor's reduction in price?
Selected Answer: augment the product
Question 3
2 out of 2 points
Competitors are most likely to react to a price change when ________.
Selected Answer: there are few competing firms
Question 4
2 out of 2 points
When higher-priced competitors match lower prices of their competitors but have longer
staying power because of deeper cash reserves, it leads to a(n) ________ trap.
, Selected Answer: shallow-pockets
Question 5
2 out of 2 points
A company does not set a final price until the product is finished or delivered. This is known
as ________.
Selected Answer: delayed quotation pricing
Question 6
2 out of 2 points
Starbucks, Aveda, and BMW have been able to position themselves within their categories by
combining quality, luxury, and premium prices with an intensely loyal customer base. These
companies are employing a ________ strategy.
Selected Answer: product-quality leadership
Question 7
2 out of 2 points
Matt's retail store offers all products at $2 less than its competitors. The store never runs
promotional campaigns or offers special discounts. Matt's retail store is following a(n)
________ pricing policy.
Selected Answer: everyday low
Question 8
2 out of 2 points
The minimum price that most consumers would pay for a given product is known as the
________ price.
Selected Answer: lower-bound
Question 9
2 out of 2 points
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 BenMaisonBettergrades25. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $22.49. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
81989 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now