Page | 1
D099 Final Exam Study Guide: Marketing
Concepts Questions with Detailed Verified
Answers
Elasticity Demand Ans: Elastic = small price change = big demand
change.
Inelastic Demand Ans: Demand barely changes with price.
Cost-Based Pricing Ans: Add markup to cost.
Value-Based Pricing Ans: Based on customer value perception.
Competition-Based Pricing Ans: Based on rivals' prices.
Skimming Pricing Strategy Ans: Start high, drop later.
Penetration Pricing Strategy Ans: Low intro price for market share.
Psychological Pricing Strategy Ans: $19.99 feels cheaper than $20.
Prestige Pricing Strategy Ans: High price = high status.
Price Fixing Ans: 🚫 illegal collusion.
Predatory Pricing Ans: Undercutting to kill competition.
Bait & Switch Ans: Deceptive = illegal.
D099 Final Exam Study Guide: Marketing
Concepts Questions with Detailed Verified
Answers
Elasticity Demand Ans: Elastic = small price change = big demand
change.
Inelastic Demand Ans: Demand barely changes with price.
Cost-Based Pricing Ans: Add markup to cost.
Value-Based Pricing Ans: Based on customer value perception.
Competition-Based Pricing Ans: Based on rivals' prices.
Skimming Pricing Strategy Ans: Start high, drop later.
Penetration Pricing Strategy Ans: Low intro price for market share.
Psychological Pricing Strategy Ans: $19.99 feels cheaper than $20.
Prestige Pricing Strategy Ans: High price = high status.
Price Fixing Ans: 🚫 illegal collusion.
Predatory Pricing Ans: Undercutting to kill competition.
Bait & Switch Ans: Deceptive = illegal.