MKT 340 QUIZ 9 QUESTIONS AND
CORRECT ANSWERS
When you using product bundle pricing, sellers combine several products and offer the bundle at an
increased price for increased profit. T/F ✅✅CORRECT ANSW-false
The demand curve shows the number of units the market will buy in a given time period at similar
prices. T/F ✅✅CORRECT ANSW-false
Under _____________, the market consists of a few large sellers who are highly sensitive to each
other's pricing and marketing strategies. ✅✅CORRECT ANSW-oligopolistic competition
Which of the following conditions is most likely essential for implementing a successful market-
skimming pricing strategy for a product? ✅✅CORRECT ANSW-the product's quality and image
must support its high price
Everyday low pricing is a cost-based pricing strategy. T/F ✅✅CORRECT ANSW-false
Unlike the other marketing mis elements, price plays a minor role in creating customer value and
building customer relationships. T/F ✅✅CORRECT ANSW-false
Wilkinson & Company sells plumbing supplies across the United States. Wilkinson uses Chicago as its
central location for determining freight costs regardless of the city from which products are actually
shipped. For example, a Dallas customer pays the freight cost from Chicago to Dallas even if the
goods are shipped from Dallas. Wilkinson most likely uses ________ pricing. ✅✅CORRECT ANSW-
basing-point
A break-even chart shows the total cost and total revenue expected at various sales volume levels of
a product. T/F ✅✅CORRECT ANSW-true
The first Target store opened in 1962. Its initial strategy was to set prices low to attract a large
number of buyers quickly and win a large market share. This is referred to as ______________.
✅✅CORRECT ANSW-market-penetration pricing
Dynamic pricing is particularly suitable for Internet-based companies like Amazon who want to be
responsive to shoppers' desires and marketplace changes. T/F ✅✅CORRECT ANSW-true
CORRECT ANSWERS
When you using product bundle pricing, sellers combine several products and offer the bundle at an
increased price for increased profit. T/F ✅✅CORRECT ANSW-false
The demand curve shows the number of units the market will buy in a given time period at similar
prices. T/F ✅✅CORRECT ANSW-false
Under _____________, the market consists of a few large sellers who are highly sensitive to each
other's pricing and marketing strategies. ✅✅CORRECT ANSW-oligopolistic competition
Which of the following conditions is most likely essential for implementing a successful market-
skimming pricing strategy for a product? ✅✅CORRECT ANSW-the product's quality and image
must support its high price
Everyday low pricing is a cost-based pricing strategy. T/F ✅✅CORRECT ANSW-false
Unlike the other marketing mis elements, price plays a minor role in creating customer value and
building customer relationships. T/F ✅✅CORRECT ANSW-false
Wilkinson & Company sells plumbing supplies across the United States. Wilkinson uses Chicago as its
central location for determining freight costs regardless of the city from which products are actually
shipped. For example, a Dallas customer pays the freight cost from Chicago to Dallas even if the
goods are shipped from Dallas. Wilkinson most likely uses ________ pricing. ✅✅CORRECT ANSW-
basing-point
A break-even chart shows the total cost and total revenue expected at various sales volume levels of
a product. T/F ✅✅CORRECT ANSW-true
The first Target store opened in 1962. Its initial strategy was to set prices low to attract a large
number of buyers quickly and win a large market share. This is referred to as ______________.
✅✅CORRECT ANSW-market-penetration pricing
Dynamic pricing is particularly suitable for Internet-based companies like Amazon who want to be
responsive to shoppers' desires and marketplace changes. T/F ✅✅CORRECT ANSW-true
