UCF MAR3023 Messiah Exam 4
questions with verified answers
updated
What is price? - correct answer the sacrifice (money, time, effort) that one
party pays another to receive something in exchange.
What are the 5 C's of pricing? - correct answer Costs, competition, consumers,
company objectives, channel members.
What is profit-oriented? - correct answer Putting a price on a product to make
a profit.
What is sales-oriented? - correct answer Set prices below cost to generate new
sales.
Pricing to sell.
Ex. Bogo
What is competitor-oriented? - correct answer Price according to what the
competition is doing or not doing.
Ex. Airlines.
What is customer-oriented? - correct answer Price according to the value the
costumers put on the product.
How to calculate price elasticity? - correct answer % change in quantity
demanded / % change in price
questions with verified answers
updated
What is price? - correct answer the sacrifice (money, time, effort) that one
party pays another to receive something in exchange.
What are the 5 C's of pricing? - correct answer Costs, competition, consumers,
company objectives, channel members.
What is profit-oriented? - correct answer Putting a price on a product to make
a profit.
What is sales-oriented? - correct answer Set prices below cost to generate new
sales.
Pricing to sell.
Ex. Bogo
What is competitor-oriented? - correct answer Price according to what the
competition is doing or not doing.
Ex. Airlines.
What is customer-oriented? - correct answer Price according to the value the
costumers put on the product.
How to calculate price elasticity? - correct answer % change in quantity
demanded / % change in price
