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To force or to persuade through threats or intimisation. Coerce
The degree to which consumers' desires for a product are affected by prcie. Demand Elasticity
Consumers' perception of the value of a product. Subjective price
Major factor in success or failure of a business. Price
When sales revenue equals the cost and expences of making and distributing a product. Break-even point
An agreement amoung competitors to establish price ranges. Price fixing
The value of money or of a nonmonetary item palced on a good or servie. Price
An item priced at cost to attract contomers. Loss leader
A product's profitability. Return on investment
Matter of anticipated satisfication Value
A company's profit is equal to its return on investment. False
Bartering involes the exchange of goods or services for a mutally agreed-on amount of money. False
Some companies have products whose faetures are very similar to the products of their competitors. Such companies can successfully compete by adding place utility to their products. True
Retailers who are in business in states with minimum price laws are prohibited from using the loss leader technique to attract customers. True
The practice of punishing retailers was outlawed in the Robinson-Patman Act of 1975. False
What industry was adversely affected by price wars? The home scanner industry
What does the lawof diminishing marginal utilitys state ? Consumers will buy only a limited amount of a product no matter how low its price
What is the law which prohibits companies from engaging in price fixing? Sherman Antitrust Act
What is a firm's percentage of the total sales volume generated by all competiters in a given market? market share
How does most price planning begin? Cost and expense analysis
An organization will produce 2,000 calendars which it plans to sell for $12 each. The cost of producing and marketing the calendars will be $3.75 each. The oranization will have to sell _____ before it begins to make a profit. 625
To understand pricing, a marketer must first understand the ____, which is also known as the anticipated satisfication consumers place on a product. Value
The manufacturers of Sparkle Detergent sell 15 percent of all the laundry detergent sold in the greater Miami, Ohio, area. Therefore 15 percent is the company's market ____. Share
Wages, rent, and loan intrest are all examples of _____. Price
Bo has a home-based business making jellies and jams. He sells his fruit condiments for $6 a jar. The manufacuturing cost is $3.25 a jar; their distribution and marketing costs are an addional $1.15 per jar. Their rate of return on investment is _____. 36 percent
Jamie trusts the brand and will not buy any other over-the-counter cold medicine for his children. Jamies's demand for All-Better Pediatric Cold Medicine is ____. Inelastic
Comparison of simialr products is possible because of the ____ pricing the stores use to show prices in relation to a standard measure such as cost-per-ounce. Unit
An hour before company is due, you realize you have no chocolate. You run to the store, eager to buy any brand of chocolate you can fine. Price is not important at this moment. Your demand for chocolate is ________. inelastic
Offering one customer one price for a product and another customer a different price for the same product in a similar situation is called price __________. discrimination
Created by: vhaun