Intro to Marketing Pricing

Before pricing a product, a marketer must understand the anticipated satisfaction consumers place on the product, this is known as ....

• supply

• utility

• demand

• value

Before TJ begins to price his products, he calculates the cost of making them. He adds in the projected profit margin in order to arrive at the lowest retail price. What pricing concept is TJ using?

• Demand-Oriented Pricing

• Cost-Oriented Pricing

• Competition-Oriented Pricing

• Psychological Pricing

Kroger is running a promotion in their sales ad that if you buy 10 participating items you will pay $10 but you have to purchase 10. If you buy less you will pay full price for each. This type of pricing strategy is meant to increase sales volume.

• flexible pricing policy

• loss leader

• price lining

• multiple-unit pricing

The MOST temporary pricing strategy is

• odd-even pricing

• promotional pricing

• multiple-unit pricing

• prestige pricing

If the price of milk increases, parents of small children will likely pay the higher price. Their continued demand for milk is ___.

• inelastic

• elastic

What type of pricing strategy is Everyday Low Pricing?

• multiple-unit pricing

• seasonal discount pricing

• price lining

• psychological pricing

Brands like LV, Gucci, Prada are sold exclusively in certain stores and are priced very high to position themselves as higher status and exclusive. Which type of pricing strategy is this?

• prestige pricing

• loss leader

• brand pricing

• odd/even pricing

Samuel loves to go to the Farmer's Market to get fresh fruits and veggies for his recipes. He enjoys bargaining with the growers, he is glad they use the _____pricing policy

• one-price

• flexible

• price lining

• multiple-unit

Pricing a product at or below cost to encourage consumer to visit your store in the hopes they will purchase other larger priced items.

• odd/even

• markdown pricing

• special event pricing

• loss leader pricing

Caliber Car Wash offers different levels of washes for customers to meet different budgets- prices are $5, $10, $15, $20. This strategy is called

• price lining

• odd/even

• promotional

• prestige