Chapter 11 Pricing

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Trident Technical College *

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MKT101

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Marketing

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Feb 20, 2024

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Uploaded by LieutenantGerbil240

Chapter 11: Pricing Which statement regarding the "gray market" are true ? (Check all that apply.) Multiple select question. The increasingly interconnected nature of world economies makes gray market exchanges difficult, if not impossible. Gray market buying and selling often occurs when the price of an item is significantly higher in one country than another. incorrect Gray market goods allow consumers to obtain legally produced items for less than they could normally. correct The gray market is the practice of illegally buying and selling products outside of sanctioned channels. Gray market goods cut into a firm's revenue and profits. correct Correct Answer  Gray market buying and selling often occurs when the price of an item is significantly higher in one country than another.  Gray market goods allow consumers to obtain legally produced items for less than they could normally.  Gray market goods cut into a firm's revenue and profits. The most common examples of Blank______ pricing involve firms that falsely advertise wholesale pricing or promise a significant price reduction on an artificially high retail price. Multiple choice question. dynamic odd deceptive markup incorrect predatory Correct Answer deceptive Which of the following price discrimination scenarios are legal under the Robinson- Patman Act? (Check all that apply.) Multiple select question. Charging different prices if it is part of a quantity discount program

Charging different prices as a result of a going-out-of-business sale Allowing a significant price reduction on an artificially high retail price Promising to match competitor's prices if the consumer produces proof of the lower price Correct Answer  Charging different prices if it is part of a quantity discount program  Charging different prices as a result of a going-out-of-business sale  Promising to match competitor's prices if the consumer produces proof of the lower price Your text defines a(n) Blank______ as the name, term, symbol, design, or any combination of these that identifies and differentiates a firm's products. Multiple choice question. image incorrect brand copyright label patent Correct Answer brand What are the four essential components of building a successful brand? Multiple select question. Capture feedback Train and empower employees Create a consistent brand image Monitor the competitive environment Create consistent brand messaging Deliver a product that provides value Correct Answer  Capture feedback  Create a consistent brand image  Create consistent brand messaging  Deliver a product that provides value When building a successful brand, what should a firm look to achieve regarding its brand message? (Check all that apply.) Multiple select question. The brand message should point out negative aspects of the competition. The brand message should be easy to remember. The brand message should remind consumers about the product attributes they care about most.

The brand message should be consistent and concise. The brand message should share all of the individual good things about the product. Correct Answer  The brand message should be easy to remember.  The brand message should remind consumers about the product attributes they care about most.  The brand message should be consistent and concise. Of the following, which are qualitative research methods? (Check all that apply.) Multiple select question. Brand recall Brand recognition incorrect Projective techniques correct Free association incorrect Correct Answer  Projective techniques  Free association

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