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Marketing Practice Test: Setting the Right Price
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Marketing Practice Test: Setting the Right Price
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25 Questions

1. Trade-ins often go hand-in-hand with:
2. Which type of pricing means pricing at odd-numbered prices to connote a bargain and pricing at even-numbered prices to imply quality?
3. Which type of quantity discount is a deduction from the list price that applies to a single order?
4. The owner of a neighborhood hardware store has decided to sell a set of three padlocks for $5. He hopes the below-cost price for the locks will attract current and new customers who will also buy regularly priced items. The owner is encouraging store patronage through:
5. If Dunn’s Best Jams and its distributors agree that the retailers will sell Dunn’s jams at a certain price, at or above the price floor, Dunn’s and its distributors probably practice:
6. One form of extreme penetration pricing that has dramatically increased sales during the recent economic downturn is _____ grocers.
7. Consumers sometimes prefer two-part pricing because:
8. Toyota periodically offers customers _____, allowing purchasers to borrow money to pay for new cars without incurring an interest charge.
9. Delayed-quotation pricing:
10. The market for turkey products is large. If a major producer of turkeys were to introduce a boneless fresh turkey wrapped around savory dressing, most of the large market for this new product would be aware of its existence. The market is price sensitive, and there is some potential competition. The appropriate strategy would be:
11. If a company decides to divide its market area into segments or regions and charge a flat rate for freight to all customers in a given region, the company is using _____ pricing.
12. A(n) _____ allows for price increases based on the cost-of-living index or some other formula.
13. If the seller pays all or part of the actual freight charges and does not pass them on to the buyer, the seller is using _____ pricing.
14. All of the following are tactics for fine-tuning the base price EXCEPT:
15. Why is price lining a valuable tactic for marketing managers?
16. The 99-Center is a retail store where all of the merchandise is priced at 99 cents. This retailer uses:
17. After managers understand both the legal and the marketing consequences of price strategies, they should set a _____ price—the general level at which a company expects to sell a good or service.
18. A penetration pricing strategy tends to be most effective:
19. Which of the following is a price tactic that offers all goods and services at the same price (or perhaps two or three prices)?
20. All of the following are geographic pricing methods EXCEPT:
21. Lea Kirkham is a physician. She charges each patient the same price for a physical examination, whether the procedure takes 10 minutes or a full hour. Which pricing policy is Dr. Kirkham following?
22. Last year, a single infield box ticket for an Atlanta Braves baseball game cost $40, but fans who bought a season pass for the same seat got a reduced price. This $40 price was a _____ price.
23. AMC Theaters offers customers a package that includes two movie tickets, two small drinks and one small popcorn all priced together at $29.99. this pricing technique is called.
24. The practice of charging a very low price for a product with the intent of driving competitors out of business or out of a market is called.
25. Uniform delivered pricing:

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