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When Panera Bread opened Panera Cares Cafes, they implemented a pricing model that allowed consumers to pay what they wished for their items. The goal of this cafe was to still be:


A) profit maximizing
B) profit minimizing
C) self-sustaining
D) a charity service

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Chico's sells women's sportswear. A simple tank top with the Chico's label costs $48. If you know you simply want a tank top, you can buy a tank top for $5 at a Family Dollar Store, but it won't have the Chico's label. What kind of demand-oriented approach to pricing is being used by this manufacturer?


A) prestige pricing
B) experience curve pricing
C) target market share pricing
D) demand-backward pricing

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The pricing model in your text, has six distinct steps in the pricing process. Considering the following list of steps in setting prices: identify pricing objectives and constraints; estimate demand and revenue; determine cost, volume, and profit relationships; _______; set the list or quoted price; and make special adjustments to the list or quoted price.


A) raise initial capital
B) select an approximate price level
C) scan competitors for price lines of similar products or services
D) select the appropriate pricing formula

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What is predatory pricing?

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Predatory pricing is the pract...

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Which of the following types of competitive markets is LEAST likely to need pricing objectives?


A) pure monopoly
B) pure competition
C) oligopoly
D) monopolistic competition

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The three special adjustments to list or quoted price are:


A) discounts; allowances; geographical adjustments
B) discounts; allowances; seasonal
C) seasonal; allowances; geographical adjustments
D) discounts; seasonal; geographical adjustments

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For every ten pallets of watermelon a local grocery store purchases, the farm will include one pallet of cucumbers for free. This is an example of offering a(n) :


A) flexible pricing policy.
B) quantity discount.
C) promotional allowance.
D) payoff.

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Most consumers realize the quality of diamonds varies, and most believe the higher the price of the diamond, the higher its quality. This is an example of price influencing the perception of overall quality, and_________ to consumers.


A) acceptable cost
B) return on investment
C) value
D) perceptual investment

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Rents, executive salaries, and insurance are examples of typical:


A) fixed costs.
B) variable costs.
C) dividends.
D) liquidity payments.

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All of the following statements about the Competition Act are true, except:


A) The Competition Act covers promotional allowances.
B) The Competition Act allows price differentials to different customers under certain changing market conditions.
C) It is easy to prove that price discrimination under the Competition Act has taken place.
D) The Competition Act deals with price discrimination.

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Geographic adjustments are made by manufacturers or wholesalers to:


A) cover transportation costs.
B) cover promotional costs.
C) cover production costs.
D) cover administrative costs.

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You are president of a manufacturing unit of small electronic appliances. You want to reduce your break-even quantity. Other things equal, you can do this by:


A) reducing marginal revenue.
B) increasing fixed cost.
C) increasing the quantity sold, while keeping price unchanged.
D) reducing unit variable cost.

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Newsweek ran a pricing experiment that involved setting different prices for its magazine in different cities and counting the number of units sold. After adjusting for factors like the population of the different cities, Newsweek could plot these prices and units to result in a:


A) demand curve.
B) target return curve.
C) consumer tastes curve.
D) unit volume curve.

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Manufacturers use seasonal discounts to:


A) "load up" their dealers.
B) rid themselves of dated merchandise.
C) entice dealers to purchase seasonal merchandise earlier in the selling season.
D) prolong the peak seasonal selling season.

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List four key factors used to estimate demand.

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When setting the prices for their smart TVs, VIZIO based its pricing strategy on:


A) Copying Sony's winning strategy
B) Distributing with Costco and Sam's Club warehouses
C) Affordable products with innovative features
D) High-end features, high-end price

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Prices such as: $19.99, $29.99, and $39.99 are examples of:


A) incremental pricing
B) odd-even pricing
C) target pricing
D) range-based pricing

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Charging different prices to maximize revenue for a set amount of capacity at any given time is referred to as:


A) Demand backward pricing
B) Skimming pricing
C) Target pricing
D) Yield management pricing

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GE has fixed costs of $13B and variable costs for the year of $8B. Their total costs are:


A) $5B
B) $21B
C) $13B
D) there is not enough information to calculate

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Which of the following statements about geographical adjustments to price is correct?


A) Multiple-zone pricing is sometimes referred to as "postage-stamp" pricing.
B) In FOB origin pricing, the seller selects the mode of transportation.
C) Basing point pricing seems to have been used in industries where freight expenses are a significant part of the total cost to the buyer.
D) In FOB with freight allowed pricing, the seller adds the transportation costs to the list price.

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