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Exam 13: Pricing Products and Services

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Question 21

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

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Question 22

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Most government crown organizations in Canada operate in which competitive market?

A) Pure monopoly
B) Oligopoly
C) Monopolistic competition
D) Pure competition

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Question 23

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What is the difference between fixed cost and variable cost?

Suppose a shop owner sets a target ROI of 10 percent,which is twice that achieved the previous year.She considers raising the average price of a framed picture to $54 or $58-up from last year's average of $50.In order to still achieve her target,she might:

A new digital provider of photo-editing software is trying to gain traction in the marketplace and grow their awareness among consumers.Which pricing strategies should the company implement?

What are discounts? List the four kinds that are especially important in marketing strategy.

Florida Power & Light,an electric power company,is the only source of electricity for consumers in most parts of the Florida panhandle.As a(n) _____,the company receives approval from the state utility commission for the rates it can charge.

TB Figure: 1 -TB Figure 1 shows there are six distinct steps in the pricing process: identify pricing constraints and objectives; estimate demand and revenue; __________; select an approximate price level; set list or quoted price; and make special adjustments to list or quoted price.

While working towards a target price of $45.00 per widget,Delta Inc.,calculated their total input costs were $30.00 per widget.Adding $15.00 to the total input costs to arrive at $45.00 would be reflective of:

Mike Morgan,a sales representative for a major distributor of Kodak film,wanted to encourage repeat purchases by his customers.In order to accomplish this objective,Morgan offered the following discount to his customers: 10-50 cases of film over the next 12 months - a 10 percent discount, 51-100 cases of film over the next 12 months - a 12 percent discount, 101-200 cases of film over the next 12 months - a 15 percent discount. What type of discount was Morgan offering his customers?

Imagine you have some extra cash and would like to invest in something that will give you some extra money while you look for a job after graduation.If you invest $177 in a black-pawed Zip (a cat) Beanie Baby,you should remember that its price is most closely tied to:

A computer retailer shrink-wraps Microsoft Office 2013 to his private label Intel v9 Windows 8 ultrabook and sells the ultrabook and software for $2,500.00.This pricing scenario might best be described as:

Predatory pricing is:

Trade (functional) discounts are calculated on two criteria.What are the two criteria?

A new startup wants to gain as many users as possible to eventually pay for their service,once they understand the product's value to them.Their first pricing strategy should be one of ___________ pricing and then switch to __________ to further amass market share.

When Bruno's,a legendary supermarket 10 km north of Toronto,prices rib steaks at $2.29 a pound,which is below its cost,it is attempting not to sell steaks,but to:

Describe the advantages of implementing a freemium based pricing model and provide an example of a business that may benefit from using this model?

Odd-even pricing is most closely related to:

Assume it costs Lady Marion Seafood,Inc.$30 to catch,process,freeze,package,and ship 5-pound packages of Alaskan salmon.It uses a 60 percent markup on its salmon products and charges customers $48 for a postage-paid vacuum-sealed package.What type of pricing does Lady Marion Seafood use?

Toro decided to augment its traditional hardware outlet distribution by also selling through big discounters such as Walmart and Zellers and set prices for the discounters substantially below those for its traditional hardware outlets.Many unhappy hardware stores subsequently abandoned Toro products in favour of other manufacturers.This is an example of a firm failing to consider _____ effects when setting its final list or quoted price.