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question_answer1)
Price is
A)
The value that is exchanged for products in a marketing transaction done
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B)
always money paid in a marketing transaction done
clear
C)
more important to buyers than sellers done
clear
D)
usually the most inflexible marketing mix decision variable done
clear
E)
None of the above done
clear
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question_answer2)
A Fixed Price Policy is one where
A)
Price fixing is allowed by the government done
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B)
different prices are charged to buyers based on the individual customers and situations done
clear
C)
Setting one price for all buyers is the norm done
clear
D)
different prices are charged, based on barter or negotiation done
clear
E)
Both (a) and (b) done
clear
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question_answer3)
The oldest form of exchange trading of products is known as
A)
Credit done
clear
B)
barter done
clear
C)
Purchasing done
clear
D)
buying done
clear
E)
None of the above done
clear
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question_answer4)
Price is a key element in the marketing mix because it relates directly to
A)
the generation of total revenue done
clear
B)
the size of the sales force done
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C)
the speed of an exchange done
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D)
brand image done
clear
E)
quality controls done
clear
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question_answer5)
Dell used ............ to enter in the personal computer market by selling high quality computer products through lower cost direct channels.
A)
Market development pricing done
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B)
Market penetration pricing done
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C)
Market skimming pricing done
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D)
Differentiation pricing done
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E)
Both (a) and (b) done
clear
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question_answer6)
If price is used to say something about the product other than in just economic terms, a pricing method is being used called
A)
Psychological pricing done
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B)
value-based pricing done
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C)
segmented pricing done
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D)
Promotional pricing done
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E)
discount and allowance pricing done
clear
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question_answer7)
Costs that do not vary with production or sales levels are called
A)
variable costs done
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B)
fixed assets done
clear
C)
independent costs done
clear
D)
Standard costs done
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E)
All of the above done
clear
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question_answer8)
Setting price of a product based on the buyer's perception of value rather than on the seller's cost is known as [SBI Clerk 2012]
A)
value-based pricing done
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B)
break even pricing done
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C)
Cost plus pricing done
clear
D)
target profit pricing done
clear
E)
None of the above done
clear
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question_answer9)
In market skimming pricing strategy,
A)
Initially price is high and is maintained high done
clear
B)
Initially price is higher and then it is reduced done
clear
C)
Initially price is lower and then it is increased done
clear
D)
All of the above done
clear
E)
None of the above done
clear
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question_answer10)
Which pricing approach is used to avoid the problem of over pricing and under pricing?
A)
Competition based approach done
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B)
Cost based approach done
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C)
Buyer based approach done
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D)
All of the above done
clear
E)
None of the above done
clear
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question_answer11)
'Skimming price' for the new product is called
A)
low initial price done
clear
B)
average price done
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C)
high initial price done
clear
D)
moderate price done
clear
E)
All of these done
clear
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question_answer12)
Under monopoly market structure, the degree of freedom in pricing decision is
A)
Very low done
clear
B)
very high done
clear
C)
quite good done
clear
D)
zero done
clear
E)
All of these done
clear
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question_answer13)
A company must pay each month's bill for rent, heat, interest and executive salaries. Such cost would most appropriately be labelled as
A)
total costs done
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B)
fixed costs done
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C)
Variable costs done
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D)
dynamic costs done
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E)
None of these done
clear
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question_answer14)
A firm that practices price competition engages in which one of the following strategies?
A)
Beating or matching the prices of competitions done
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B)
Setting prices only as low as the second lowest competitor done
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C)
Competing in both price and product differentiation done
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D)
Letting other firms cut price while it retains profitability done
clear
E)
None of the above done
clear
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question_answer15)
Regulations of prices deemed paiticularly necessary for industries where
A)
Supply is excessively relative to demand done
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B)
demand equals supply done
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C)
technology provides market entry barriers done
clear
D)
competition results in all service providers incurring losses done
clear
E)
None of the above done
clear
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question_answer16)
The perception of price depends on
A)
a product's actual price and consumer's expectations regarding price done
clear
B)
a consumer's expectation of price done
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C)
a consumer's analysis of competitive prices done
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D)
a product's actual price compared with the manufacturer's suggested price done
clear
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question_answer17)
What type of discount is given to a purchaser for performing activities such as transporting, storing and selling?
A)
Quantity discount done
clear
B)
Trade discount done
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C)
Cash discount done
clear
D)
Geographic discount done
clear
E)
Service discount done
clear
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question_answer18)
When a company adjust price levels, so that it can increase sales volume to levels that match the organization?s expenses, it is said to employ a ......... pricing objective.
A)
Survival done
clear
B)
Cash flow done
clear
C)
Market share done
clear
D)
return on investment done
clear
E)
None of the above done
clear
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question_answer19)
The maximum selling price that a firm can sustain for a product is determined by
A)
competitor's prices done
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B)
what it costs to produce competitor's prices done
clear
C)
Competitive parity done
clear
D)
what customers are prepared to pay for it done
clear
E)
Both (a) and (b) done
clear
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question_answer20)
In case of prestige goods, the demand is
A)
not price sensitive till a level done
clear
B)
Price sensitive done
clear
C)
not price sensitive done
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D)
Less price sensitive done
clear
E)
None of the above done
clear
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question_answer21)
All of the following would be considered to be among the internal factors that affect price decisions, except
A)
nature of the market and demand done
clear
B)
Competition done
clear
C)
Costs done
clear
D)
environmental factors such as the economy and social concerns done
clear
E)
None of the above done
clear
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question_answer22)
Which of the following factor (s) leads to less price sensitivity?
A)
The product is more distinctive done
clear
B)
Buyers are less aware of substitutes done
clear
C)
Buyers cannot easily compare the quality of substitutes done
clear
D)
The expenditure is a smaller part of the buyer's total income done
clear
E)
All of the above done
clear
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question_answer23)
A company's costs take two forms-fixed and
A)
Variable done
clear
B)
total done
clear
C)
average done
clear
D)
accumulated done
clear
E)
None of these done
clear
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question_answer24)
When the seller receives some percentage of the payment in cash and the rest in products, it is known as
A)
buy back arrangement done
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B)
Compensation deal done
clear
C)
barter done
clear
D)
Offset done
clear
E)
None of these done
clear
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question_answer25)
Coca-Cola carries a different price depending on whether the consumer purchases it in a fine restaurant, a fast food restaurant or in an airport. This is known as
A)
location pricing done
clear
B)
Channel pricing done
clear
C)
Image pricing done
clear
D)
Customer segment pricing done
clear
E)
None of the above done
clear
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question_answer26)
Many restaurants observe 'Happy Hours' during the leave time of the day. This is known as
A)
time pricing done
clear
B)
Image pricing done
clear
C)
Customer profit pricing done
clear
D)
location pricing done
clear
E)
None of the above done
clear
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question_answer27)
In going rate pricing, the firm bases its price largely on ............ prices.
A)
market done
clear
B)
competitors done
clear
C)
actual product done
clear
D)
customer segment done
clear
E)
None of these done
clear
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question_answer28)
Sellers will establish special prices in certain seasons to draw in more customers. Organised retailers offer huge discounts during festivals like Deepawali, Christmas, etc. This is known as
A)
Special customer pricing done
clear
B)
Special event pricing done
clear
C)
Cash rebates done
clear
D)
Psychological discounting done
clear
E)
None of the above done
clear
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question_answer29)
Indian railway charges a lower fare to senior citizens. It is an example of
A)
Product form pricing done
clear
B)
Customer segment pricing done
clear
C)
Image pricing done
clear
D)
time pricing done
clear
E)
None of the above done
clear
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question_answer30)
If carrier develops a new air conditioning compressor that lasts .twice as long as existing compressors, but only uses half the electricity, it will probably establish its pricing based on
A)
Product quality done
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B)
Survival done
clear
C)
Cash flow done
clear
D)
return on investment done
clear
E)
market share done
clear
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question_answer31)
The customer's perceived value is made up of
A)
The buyer's image of the product performance done
clear
B)
The channel deliverables done
clear
C)
The warranty quality done
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D)
Customer support and softer attributes done
clear
E)
All of the above done
clear
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question_answer32)
Proper pricing is needed for [SBI Clerk 2008]
A)
extra charges for extra services done
clear
B)
levy of VAT done
clear
C)
good customer service done
clear
D)
Putting burden on the customer done
clear
E)
Service with extra facilities. done
clear
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