BUS 100 Final Exam with Verified
Answers
Competition based price strategy - ✔✔based on competition's price
skimming price strategy - ✔✔prices a new product high to recover research and development
costs and make as much profit as possible while there's little competition
penetration price strategy - ✔✔price items lower in the beginning and keep it a lower price
everyday low pricing stratey - ✔✔walmart strategy
high-low - ✔✔inflates the price and puts slaes on it
phycological pricing strategy - ✔✔uses psychology to influence customers to buy more by
setting prices that appear more attractive
total product offer - ✔✔everything that consumers evaluate when deciding whether to buy
something
product line - ✔✔a group of products that are similar to one another (coke)
product mix - ✔✔a larger company that offers a mix of supplies
brand - ✔✔name or a symbol that identifies your company
Answers
Competition based price strategy - ✔✔based on competition's price
skimming price strategy - ✔✔prices a new product high to recover research and development
costs and make as much profit as possible while there's little competition
penetration price strategy - ✔✔price items lower in the beginning and keep it a lower price
everyday low pricing stratey - ✔✔walmart strategy
high-low - ✔✔inflates the price and puts slaes on it
phycological pricing strategy - ✔✔uses psychology to influence customers to buy more by
setting prices that appear more attractive
total product offer - ✔✔everything that consumers evaluate when deciding whether to buy
something
product line - ✔✔a group of products that are similar to one another (coke)
product mix - ✔✔a larger company that offers a mix of supplies
brand - ✔✔name or a symbol that identifies your company
