Marketing Fundamentals: Pricing Concepts for Establishing Value
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Questions and Answers

What is the primary purpose of pricing tactics?

  • To set a long-term price strategy
  • To focus on all aspects of the five Cs
  • To establish a fixed price for all customers
  • To respond to competitive threats or calculate final short-term prices (correct)

    • Which aspect characterizes a broadly accepted pricing tactic?

  • Long-term nature
  • Competitor-driven
  • Short-term nature (correct)
  • Unique to each customer

    • In the context of pricing, what does 'Market Penetration Pricing' generally involve?

  • Selling products at low prices initially to gain market share (correct)
  • Setting high prices to skim off profits gradually
  • Lowering prices temporarily due to a competitor's reduction
  • Offering discounts to consumers for long-term loyalty

    • What is the main distinction between consumer pricing tactics and business pricing tactics?

    <p>Consumer tactics target individual buyers, while business tactics target organizations (B)</p> Signup and view all the answers

    What defines 'Price Skimming' as a pricing strategy?

    <p>Setting high prices initially for new products (C)</p> Signup and view all the answers

    How do pricing tactics typically interact with competitive threats?

    <p>By offering temporary price reductions in response to competitors (C)</p> Signup and view all the answers

    What is the main function of business pricing tactics and discounts?

    <p>To cater specifically to organizational buyers with strategic pricing (C)</p> Signup and view all the answers

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