MKT 331 (ANDERSON UNIVERSITY)
FINAL EXAM QUESTIONS AND
ANSWERS GRADED A+ 2025/2026
What are the different Objectives Firms have for setting prices? (5) - ANS 1. Profit
2. Volume
3. Competition
4. Prestige
5. Not-for-profit
What is the profit objective? (4) Measure? Maximize? Objectives? - ANS 1. Profitability
2. Measured with company income/contribution margin
3. Profit maximization
4. Target-run Objectives: (short or long)
What is the volume objective? (3) Measure? Maximize? Objectives? - ANS 1. Measure with
sales revenue, units, or market share
2. Sales Maximization
3. Market Share objectives: the goal set for controlling what portion of the market
What is the Competition pricing objective? Utilizes what technique? - ANS Seeks to meet
competitor's prices.
1 @COPYRIGHT 2026 ALLRIGHTS RESERVED.
, Value pricing: charge what the customer will pay. Emphasizes the benefit derived from a
product in comparison to price and quality levels. *hits the essence of marketing pricing
objectives
What is the Prestige pricing objective? (2) - ANS 1. protecting image by avoiding price
discounting
2.maintain perceived value of product or brand.
What is the objective of Not-for-Profit pricing? - ANS Goal is to influence consumers
What are 4 example goals of Not-for-Profit pricing? - ANS 1. To retard usage (cigarette usage)
2. Make products available (Goodwill)
3. Ensure availability (Power companies phone/airline control)
4. To control suppliers (gouging laws)
What are 3 more examples of Not-for-Profit pricing? - ANS 1. Cost recovery
2. Market incentives (hybrid car)
3. Profit maximization (price of Christian band tape)
What are the three C's of Pricing? - ANS 1. Cost
(underlying cost of product)
2. Competitors
(How are competitive products/subs priced?)
3. Customers
(What will custs pay?)
2 @COPYRIGHT 2026 ALLRIGHTS RESERVED.
FINAL EXAM QUESTIONS AND
ANSWERS GRADED A+ 2025/2026
What are the different Objectives Firms have for setting prices? (5) - ANS 1. Profit
2. Volume
3. Competition
4. Prestige
5. Not-for-profit
What is the profit objective? (4) Measure? Maximize? Objectives? - ANS 1. Profitability
2. Measured with company income/contribution margin
3. Profit maximization
4. Target-run Objectives: (short or long)
What is the volume objective? (3) Measure? Maximize? Objectives? - ANS 1. Measure with
sales revenue, units, or market share
2. Sales Maximization
3. Market Share objectives: the goal set for controlling what portion of the market
What is the Competition pricing objective? Utilizes what technique? - ANS Seeks to meet
competitor's prices.
1 @COPYRIGHT 2026 ALLRIGHTS RESERVED.
, Value pricing: charge what the customer will pay. Emphasizes the benefit derived from a
product in comparison to price and quality levels. *hits the essence of marketing pricing
objectives
What is the Prestige pricing objective? (2) - ANS 1. protecting image by avoiding price
discounting
2.maintain perceived value of product or brand.
What is the objective of Not-for-Profit pricing? - ANS Goal is to influence consumers
What are 4 example goals of Not-for-Profit pricing? - ANS 1. To retard usage (cigarette usage)
2. Make products available (Goodwill)
3. Ensure availability (Power companies phone/airline control)
4. To control suppliers (gouging laws)
What are 3 more examples of Not-for-Profit pricing? - ANS 1. Cost recovery
2. Market incentives (hybrid car)
3. Profit maximization (price of Christian band tape)
What are the three C's of Pricing? - ANS 1. Cost
(underlying cost of product)
2. Competitors
(How are competitive products/subs priced?)
3. Customers
(What will custs pay?)
2 @COPYRIGHT 2026 ALLRIGHTS RESERVED.
