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Questions and Answers
What is the formula for calculating the final price?
What is the formula for calculating the final price?
- Final price = List price + (Discounts and allowances) + Extra fees
- Final price = List price + (Discounts and allowances) - Extra fees
- Final price = List price - (Discounts and allowances) - Extra fees
- Final price = List price - (Discounts and allowances) + Extra fees (correct)
What concept is used to indicate value when paired with the perceived benefits of a product or service?
What concept is used to indicate value when paired with the perceived benefits of a product or service?
- Value based pricing (correct)
- Pricing mix
- Perceived benefits equation
- Value equation
What is the ratio used to calculate value?
What is the ratio used to calculate value?
- (Price - Perceived benefits)
- (Perceived benefits + Price)
- Price / Perceived benefits
- (Perceived benefits / Price) (correct)
Which type of pricing involves increasing product and service benefits while maintaining or decreasing the price?
Which type of pricing involves increasing product and service benefits while maintaining or decreasing the price?
What is it called when goods are exchanged for goods or services without involving money?
What is it called when goods are exchanged for goods or services without involving money?
Why is pricing considered a critical decision made by a marketing executive?
Why is pricing considered a critical decision made by a marketing executive?
What is the formula for calculating profit?
What is the formula for calculating profit?
In setting prices, what is the first step according to the given text?
In setting prices, what is the first step according to the given text?
Which factor influences the price of a product based on its newness?
Which factor influences the price of a product based on its newness?
What is the pricing objective that focuses on increasing sales revenue?
What is the pricing objective that focuses on increasing sales revenue?
What technique analyzes the relationship between total revenue and total cost to determine profitability at various levels of outputs?
What technique analyzes the relationship between total revenue and total cost to determine profitability at various levels of outputs?
What is the quantity at which total revenue equals total cost, and beyond which profit occurs?
What is the quantity at which total revenue equals total cost, and beyond which profit occurs?
Which method involves setting the highest price that customers really desiring the product are willing to pay?
Which method involves setting the highest price that customers really desiring the product are willing to pay?
What is step 2 in setting prices according to the given text?
What is step 2 in setting prices according to the given text?
What does marginal analysis study?
What does marginal analysis study?
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