MKT 300 Exam 3 Jim Karrh questions with verified
already passed
1. Price competi- Emphasizing price as an issue and matching or beating competitors'
tion prices
2. Nonprice compe- emphasizing factors other than price to distinguish a product from
tition competing brands
3. Survival If in trouble, a company might temporarily setting prices low, at times below
costs, in order to attract more sales
4. Profit May be stated in terms of either actual dollar amounts or a percentage of
sales revenues
5. Return on Related to profit, can be diflcult to specify
Invest- ment
6. Market Share A product's sales in relation to total industry sales
7. Cash Flow -Some companies set prices so they can recover cash as quickly as
possible
-May be used when there is a short product life cycle
8. Status Quo Want to maintain a certain market share or position
-But markets are dynamic!
9. Product Quality Use pricing to build quality and the perception of quality too
10. Why may de- -Changes in buyers' needs
mand change?
-Variations in the ettectiveness of other marketing-mix variables
-The presence of substitutes
-Dynamic environment
11. Elasticity
12
. 1/
29
,MKT 300 Exam 3 Jim Karrh questions with verified
already passed
formula
12
. 2/
29
,MKT 300 Exam 3 Jim Karrh questions with verified
already passed
What to -Costs
consider when
choosing a -Competition
pricing -Consumer behavior
strategy? -Capacity
-Cycle (Product Life Cycle, that is)
13. Shrinkflation decreasing product quantity/size while maintaining or increasing price
14. Complex Pricing Complex pricing is making pricing so complex that customers don't
understand
how it works means that the company might be taking financial advantage
of customers.
15. Losing Sales 19. Differential Pric- ing
over Complex
Pric- ing:
Incompre-
hensibility
16. Losing Sales
over Complex
Pricing:
Changing too
of- ten
17. Losing Sales
over Complex
Pricing: Too
much item- ized
pricing
18. New
Product
Pricing
12
. 3/
29
already passed
1. Price competi- Emphasizing price as an issue and matching or beating competitors'
tion prices
2. Nonprice compe- emphasizing factors other than price to distinguish a product from
tition competing brands
3. Survival If in trouble, a company might temporarily setting prices low, at times below
costs, in order to attract more sales
4. Profit May be stated in terms of either actual dollar amounts or a percentage of
sales revenues
5. Return on Related to profit, can be diflcult to specify
Invest- ment
6. Market Share A product's sales in relation to total industry sales
7. Cash Flow -Some companies set prices so they can recover cash as quickly as
possible
-May be used when there is a short product life cycle
8. Status Quo Want to maintain a certain market share or position
-But markets are dynamic!
9. Product Quality Use pricing to build quality and the perception of quality too
10. Why may de- -Changes in buyers' needs
mand change?
-Variations in the ettectiveness of other marketing-mix variables
-The presence of substitutes
-Dynamic environment
11. Elasticity
12
. 1/
29
,MKT 300 Exam 3 Jim Karrh questions with verified
already passed
formula
12
. 2/
29
,MKT 300 Exam 3 Jim Karrh questions with verified
already passed
What to -Costs
consider when
choosing a -Competition
pricing -Consumer behavior
strategy? -Capacity
-Cycle (Product Life Cycle, that is)
13. Shrinkflation decreasing product quantity/size while maintaining or increasing price
14. Complex Pricing Complex pricing is making pricing so complex that customers don't
understand
how it works means that the company might be taking financial advantage
of customers.
15. Losing Sales 19. Differential Pric- ing
over Complex
Pric- ing:
Incompre-
hensibility
16. Losing Sales
over Complex
Pricing:
Changing too
of- ten
17. Losing Sales
over Complex
Pricing: Too
much item- ized
pricing
18. New
Product
Pricing
12
. 3/
29
