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BUSI 520 Quiz 4. Questions & Answers (Graded A) $22.49   Add to cart

Exam (elaborations)

BUSI 520 Quiz 4. Questions & Answers (Graded A)

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  • September 12, 2022
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  • 2022/2023
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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

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