Product, Price, and Place (Chapter 11)

The path of selling goods or services directly from a manufacturer to end users without using intermediaries is the _____.

• Supply chain

• Direct channel

• Indirect channel

• Pipeline

What unfair pricing strategy is the practice of advertising one product with the intent of persuading customers to buy a more expensive item when they arrive in the store?

• deceptive pricing

• price gouging

• bait and switch

• predatory pricing

General price at which the company expects to sell a product.

• List price

• Base price

• Selling price

• MSRP

Path of selling goods or services that uses intermediaries to get the product from manufacturer to end users.

• Supply chain

• Channel of distribution

• Direct channel

• Indirect channel

Pricing an item much lower than the current market price or the cost of acquiring the product.

• Loss leader

• Price gouging

• Deceptive pricing

• Markup

Amount added to the cost to determine the selling price.

• List price

• Selling price

• Markup

• MSRP

_____ is the number of product items within a product line.

• Product mix

• Product line

• Product item

• Product depth

Pricing techniques that create an image of a product and to entice customers to buy are _____ strategies.

• Psychological pricing

• Bundling

The _____ is the price recommended by the manufacturer.

• List price

• Price lining

• Selling price

• MSRP

The _____ is an explanation of the value of a certain product over others that are similar.

• Selling price

• Value propostition