Pricing Function

Which of the following best describes price?

• Maximizing profits

• Finding the perceived value

• The amount a product is sold for

• All the answers

Which of the following are important for an effective pricing strategy?

• Customer satisfaction

• Continued failure of a business

• The product life cycle of a product

• None of the answers

Price maintenance is used by which company?

• Apple

• Amazon

• Walmart

• The dollar store

Which of the following best describes price maintenance?

• Allowing a retailer to maintain a price point

• Price maintenance is changed regularly

• Maintaining a consistent retail price for a product

• Allowing products to have changing prices

Which of the following are characteristics of effective pricing?

• Realistic

• Flexible

• Competitive

• All the answers

If the price for a product can be changed with ease what kind of pricing is being used?

• Flexible

• Realistic

• Competitive

• None

Basing the price for a product on your what a customer believes is what kind of pricing?

• Realistic

• Competitive

• Flexible

• All

Which of the following is not a factor of pricing?

• Government regulations

• Supply and Demand

• Research and Development

• Channel Members

When a company basis their prices on customer demand, which strategy are they using?

• Predatory

• Monopoly

• Dynamic

• Price Maintenance

True or False. Predatory pricing is legal in the U.S.

• False

• True