Biology Forums - Study Force

If Kroger food stores advertise 2-liter bottles of Pepsi for 89 cents to generate store traffic so that shoppers will purchase other items at regular prices, the grocer is using
 A) reference pricing.
  B) a price leader.
  C) special-event pricing.
  D) comparison discounting.
  E) professional pricing.

Question 2

Price leaders, comparison discounting, and special-event pricing are applications of
 A) psychological pricing.
  B) professional pricing.
  C) product-line pricing.
  D) bait-and-switch.
  E) promotional pricing.

Question 3

What type of pricing strategy is used in a situation where the seller has an ethical responsibility not to overcharge the client and the fees do not relate directly to the time and/or effort spent in specific cases?
 A) Price lining
  B) Prestige pricing
  C) Professional pricing
  D) Customary pricing
  E) Price skimming

Question 4

Services that are performed by lawyers, dentists, or doctors are typically priced using ____; sometimes these prices are not based on the amount of time that is spent in each situation, but are based on a flat fee regardless of the difficulty involved.
 A) traditional pricing
  B) professional pricing
  C) everyday low prices
  D) price lining
  E) customary pricing

Question 5

If REVO sets the price for its sunglasses at 240, it is most likely using _____pricing to convey ______.
 A) product-line; prestige
  B) product-line; quality
  C) psychological; quality
  D) psychological; prestige
  E) price-skimming; quality

Question 6

Odd-even pricing is
 A) a cost-based strategy.
  B) competition based.
  C) a rarely used technique.
  D) a psychological pricing strategy.
  E) a form of unethical pricing.

Question 7

The decision of Macy's to use even prices such as 60 for a Ralph Lauren Polo is an application of ____, where ____ prices are often used to _____.
 A) odd-even pricing; even; give a product an upscale or exclusive image
  B) odd-even pricing; odd; show customers products are priced based on tradition
  C) prestige; premium; give a product an upscale or exclusive image
  D) prestige; even; make it easier for consumers to compare
  E) odd-even; even; facilitate comparison to competitors' prices

Question 8

Products such as light bulbs, canned soft drinks, and ice cream sandwiches are usually priced using ______, which usually results in a ______.
 A) multiple-unit pricing; lower per unit price
  B) reference pricing; lower per unit price
  C) multiple-unit pricing; more convenient package
  D) bundle pricing; lower per unit price
  E) bundle pricing; more convenient package

Question 9

When Mia and Shane are planning their honeymoon, their travel agent tells them that if they buy a special package, their trip to Paris will include meals, tickets to the theater, and a rental car in addition to airfare and a hotel. This is an example of the use of
 A) multiple-unit pricing.
  B) bundle pricing.
  C) prestige pricing.
  D) price lining.
  E) price packaging.

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Nice!

:-]