Pricing Concepts Question Preview (ID: 16432)
Review Various Pricing Concepts.
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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
c)
d)
Buying your favorite brand no matter the cost.
a) supply and demand
b) inelastic demand
c) none of the above
d)
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
c)
d)
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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