Exam (elaborations)
BUSML 3250 Chapter 11 Exam Questions and Answers
- Course
- Institution
BUSML 3250 Chapter 11 Exam Questions and Answers
[Show more]
Content preview
BUSML 3250 Chapter 11 ExamQuestions and Answers
market-skimming pricing (price skimming) - Answer-setting a high price for a new
product to skim maximum revenues layer by layer from the segments willing to pay the
higher price; the company makes fewer but more profitable sales
market-penetration pricing - Answer-setting a low price for a new product in order to
attract a large number of buyers and a large market share
product line pricing - Answer-setting the price steps between various products in a
product line based on cost differences between the products, customer evaluations of
different features, and competitors' prices
optional-product pricing - Answer-the pricing of optional or accessory products along
with a main product
captive-product pricing - Answer-setting a price for products that must be used along
with a main product, such as blades for a razor and games for a video-game console
by-product pricing - Answer-setting a price for by-products in order to make the main
product's price more competitive (Minute Maid--orange peels don't go to waste)
product bundle pricing - Answer-combining several products and offering the bundle at
a reduced price
discount - Answer-a straight reduction in price on purchases during a stated period of
time or of larger quantities
allowance - Answer-promotional money paid by manufacturers to retailers in return for
an agreement to feature the manufacturer's products in some way
segmented pricing - Answer-selling a product or service at two or more prices, where
the difference in prices is not based on differences in cost (such as first class airline
seat--product-form pricing)
psychological pricing - Answer-pricing that considers the psychology of prices and not
simply the economics; the price is used to say something about the product
reference prices - Answer-prices that buyers carry in their minds and refer to when they
look at a given product (such as putting store brand cereal next to name brand)
promotional pricing - Answer-temporarily pricing products below the list price, and
sometimes even below cost, to increase short-run sales
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 lectknancy. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $8.49. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
77254 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now