Pricing Concepts Question Preview (ID: 16432)

Review Various Pricing Concepts.

The Robinson-Patman Act of 1975 outlawed:
a) punishing retailers
b) price fixing
c) unit pricing
d) price discrimination

Popular products for sale at-cost or below-cost in order to increase store traffic.
a) penetration pricing
b) price lining
c) loss-leader pricing
d) skimming pricing

The key to price planning is:
a) cost and expense analysis
b) sales projections
c) consumer needs
d) competition analysis

Psychological pricing strategies include:
a) odd-even pricing
b) prestige pricing
c) everyday low price
d) all of the above

Market share is the percentage of the whole market that belongs to a particular company.
a) true
b) false

Buying your favorite brand no matter the cost.
a) supply and demand
b) inelastic demand
c) none of the above

Helps consumers compare prices.
a) unit pricing
b) return on investment
c) cash discount
d) flexible pricing

It would be wise for me to memorize the formula for calculating break-even point.
a) True
b) False

Selling a product for one price to a customer and for a different price to another, similar customer is an example of:
a) price fixing
b) monopoly
c) price discrimination
d) subjective price

If demand for a product goes up when the price goes down the product has:
a) supply and demand
b) elastic demand
c) inelastic demand
d) all of the above

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