Question 1

A one-price policy means

Accepted Answer

A one-price policy implies offering the same price to all customers who purchase products under the same conditions and in the same quantities.

Question 2

A ________ policy means offering the same price to all customers who purchase products under essentially the same conditions and in the same quantities.

Accepted Answer

A one-price policy means offering the same price to all customers who purchase products under essentially the same conditions and in the same quantities.

Question 3

When individual firms set their own prices-sometimes holding them steady for long periods of time-rather than letting daily market forces determine prices,such prices are called

Accepted Answer

Instead of letting daily market forces (or auctions)decide their prices,most firms consciously set their own prices,which are called administered prices.

Question 4

Regarding pricing objectives,a good marketing manager knows that

Accepted Answer

A status quo pricing objective may be part of an aggressive overall marketing strategy focusing on nonprice competition.

Question 5

According to the text,with regard to price,managers should

Accepted Answer

Managers should administer both the price received from intermediaries and the price final consumers pay.After all,the price final consumers pay will ultimately affect the quantity sold.

Question 6

A one-price policy means offering the same price

Accepted Answer

A one-price policy means offering the same price to all customers who purchase products under essentially the same conditions and in the same quantities.

Question 7

Which of the following statements is most likely to be made by a manager with a status quo pricing objective?

Accepted Answer

Managers that adopt status quo objectives may say that they want to stabilize prices,or meet competition,or even avoid competition.

Question 8

Prices are called "administered" when

Accepted Answer

Instead of letting daily market forces (or auctions)decide their prices,most firms consciously set their own prices,which are called administered prices.

Question 9

At Travelocity's website,visitors are likely to find several airlines that have the identical same-day price for a flight from Atlanta to San Francisco.What pricing objective are these airlines pursuing?

Accepted Answer

Managers that adopt status quo objectives may say that they want to stabilize prices,or meet competition,or even avoid competition.

Question 10

Which of the following is a status quo pricing objective?

Accepted Answer

Managers that adopt status quo objectives may say that they want to stabilize prices,or meet competition,or even avoid competition.

Question 11

"Don't-rock-the-boat" thinking is most common when

Accepted Answer

Don't-rock-the-pricing-boat thinking is most common when the total market is not growing.

Question 12

Godiva,a maker of expensive European chocolates,does not mention price in its magazine advertising.Instead,the ad copy mentions the quality of the ingredients,the fine packaging,and the luxurious boutiques where Godiva chocolates are sold.Godiva seems to be pursuing a pricing objective of

Accepted Answer

Nonprice competition is an aggressive action on one or more of the Ps other than Price.

Question 13

Mercedes,the European luxury car-maker,does not mention price in its magazine advertising.Instead,the ad copy focuses on the quality and performance of the Mercedes product line.What pricing objective is Mercedes pursuing?

Accepted Answer

Nonprice competition is an aggressive action on one or more of the Ps other than Price.

Question 14

Which of the following is a status quo-oriented pricing objective?

Accepted Answer

A status quo pricing objective may be part of an aggressive overall marketing strategy focusing on nonprice competition.

Question 15

Managers satisfied with their current market share and profits sometimes adopt what can be thought of as "don't-rock-the-pricing-boat objectives." These are also referred to as

Accepted Answer

Managers satisfied with their current market share and profits sometimes adopt status quo objectives-don't-rock-the-pricing-boat objectives.

Question 16

Managers justify status quo objectives as an attempt to do all of the following EXCEPT

Accepted Answer

Managers that adopt status quo objectives may say that they want to stabilize prices,or meet competition,or even avoid competition.

Question 17

The majority of U.S.firms use a one-price policy

Accepted Answer

The majority of U.S.firms use a one-price policy mainly for administrative convenience and to maintain goodwill among customers.

Question 18

A one-price policy means

Accepted Answer

A one-price policy means offering the same price to all customers who purchase products under essentially the same conditions and in the same quantities.

Question 19

Offering the same price to all customers who purchase products under essentially the same conditions and in the same quantities is a ________ policy.

Accepted Answer

A one-price policy means offering the same price to all customers who purchase products under essentially the same conditions and in the same quantities.

Question 20

Faced with many "me-too" competitors,Sonic Burgers,Inc.has set its price level to "meet competition" while emphasizing nonprice competition.Sonic Burgers' pricing objective seems to be a ________ objective.

Accepted Answer

Managers that adopt status quo objectives may say that they want to stabilize prices,or meet competition,or even avoid competition while focusing on nonprice competition.

Quiz 17: Pricing Objectives and Policies

A one-price policy means

A ________ policy means offering the same price to all customers who purchase products under essentially the same conditions and in the same quantities.

When individual firms set their own prices-sometimes holding them steady for long periods of time-rather than letting daily market forces determine prices,such prices are called

Regarding pricing objectives,a good marketing manager knows that

According to the text,with regard to price,managers should

A one-price policy means offering the same price

Which of the following statements is most likely to be made by a manager with a status quo pricing objective?

Prices are called "administered" when

At Travelocity's website,visitors are likely to find several airlines that have the identical same-day price for a flight from Atlanta to San Francisco.What pricing objective are these airlines pursuing?

Which of the following is a status quo pricing objective?

"Don't-rock-the-boat" thinking is most common when

Godiva,a maker of expensive European chocolates,does not mention price in its magazine advertising.Instead,the ad copy mentions the quality of the ingredients,the fine packaging,and the luxurious boutiques where Godiva chocolates are sold.Godiva seems to be pursuing a pricing objective of

Mercedes,the European luxury car-maker,does not mention price in its magazine advertising.Instead,the ad copy focuses on the quality and performance of the Mercedes product line.What pricing objective is Mercedes pursuing?

Which of the following is a status quo-oriented pricing objective?

Managers satisfied with their current market share and profits sometimes adopt what can be thought of as "don't-rock-the-pricing-boat objectives." These are also referred to as

Managers justify status quo objectives as an attempt to do all of the following EXCEPT

The majority of U.S.firms use a one-price policy

A one-price policy means

Offering the same price to all customers who purchase products under essentially the same conditions and in the same quantities is a ________ policy.

Faced with many "me-too" competitors,Sonic Burgers,Inc.has set its price level to "meet competition" while emphasizing nonprice competition.Sonic Burgers' pricing objective seems to be a ________ objective.