pricing objectives and price determination

Question 1

what is the major determinante of the market demand for the item

Answer 1

the price of a product or service

Question 2

whom is the price affects

Answer 2

competitive position
its share of the markets
firm marketing program

Question 3

the things that affect in the want of the customer

Answer 3

the price
store reputation
advertising
other varibles

Question 4

what is utility

Answer 4

is the attribute of an item that makes it capable of want satisfaction

Question 5

what is the value

Answer 5

value is the quantitive measure of the worth of product to attract other product in exchange

Question 6

what is price

Answer 6

is expressed in terms of dollers and cents or any other monetary terms of exchange

Question 7

true or false

many retailers and wholesalers use target return on net sales as pricing objective for long run

Answer 7

false

short run

Question 8

true or false
dominant firm can set its pricing goals more independently of competition than can the smaller follower firms in the industry

Answer 8

true

Question 9

true or false

there is a relationship between the leader price and those charged by other firms

Answer 9

true

Question 10

what is the factor that determinte that should use maintain share of market

Answer 10

is company can usually determine what share of the market it enjoys

Question 11

what is going in meer or prenvent compiatition

Answer 11

the small firms follow the leader policy

Question 12

what should the firms do to maximize the profits

Answer 12

accept the short run losses

Question 13

the determination for a product

Answer 13

demand for aproduct 
target share of the market 
competitive  reactions 
use of cream-skimming  pricing or penteraTION pricing 
other markets of marketing mix 
costs of producing or market the product

Question 14

estimated the price for anew product is easier than established product true or false

Answer 14

false

Question 15

what is the two practical steps to determine the price two established

Answer 15

the first to determine what is the expected price

the second to estimate the sales volumes at different prices

Question 16

the expected price

Answer 16

it is what they think the product is worth

Question 17

manufacture more latitude in setting prices of new product than for older one true or false

Answer 17

true

Question 18

how do the sellers determine expected prices

Answer 18

they might submit articles to experenced retailers or whole sellers for appraisal
is to observe prices of comparable competitive products
is to survey potential consumers
is to market the product in a few limited test areas

Question 19

what should the prices of elastic or inelastic

Answer 19

product with an elastic demand usuallly be priced by priced lower than an item with an inelastic demand

Question 20

to increase its market share ……………

Answer 20

price more aggressively lower a price with discounts