Chapter 12

Question 1

Pricing goals

Answer 1

status quo
profit oriented
sales oriented

Question 2

Profit maximization

Answer 2

revenue is most as possible

Question 3

satisfactory products

Answer 3

resaonable level of profit

Question 4

target return on investment

Answer 4

achieve a certain roi

Question 5

Sales oriented

Answer 5

market share

sales maximization

Question 6

Product life cycle

Answer 6

Intro
growth
maturity
decline

Question 7

Price strategies 3

Answer 7

skimming - high-low
penetration - low-high
Status quo - match competition

Question 8

Single price

Answer 8

all products are of the same price

Question 9

flexible price

Answer 9

diff customers pay diff prices

Question 10

Personal services

Answer 10

specialized training

Question 11

Price lining

Answer 11

line of products priced at several points within

Question 12

Loss leader

Answer 12

selling at near or below cost value hoping they will buy more

Question 13

odd-even

Answer 13

using odd-even numbers to psychologically entice customers to think its cheaper

Question 14

price bundling

Answer 14

packages

Question 15

two-part pricing

Answer 15

2 seperate amounts to complete the total purchasing amount

Question 16

Bait pricing

Answer 16

false or misleading advertising

Question 17

deceptive pricing

Answer 17

falsely promoting a discount that is not available or limited number

Question 18

Price fixing

Answer 18

companies set a price and are in a bidding situation

Question 19

predatory

Answer 19

very low that will drive out all competition

Question 20

resale price

Answer 20

.cannot go against retailers that do not follow the msrp

Question 21

price discrimination

Answer 21

diff prices diff buyers to reduce competition