UCF MAR 3023 EXAM 4 REVIEW (CH. 14-
17) QUESTIONS AND ANSWERS 100%
PASS 2026/2027
If you found this helpful, *Venmo* me @*ASerros* to show your appreciation! Good luck! -
ANS
What is the definition of *price*? - ANS The overall sacrifice a consumer is willing to make—
money, time, energy—to acquire a specific product or service.
What are the 5 C's of Pricing? - ANS Competition, Costs, Company Objectives, Customers,
Channel Members
What is *Profit-Orientation*? - ANS A company objective that can be implemented by
focusing on target profit pricing, maximizing profits, or target return pricing.
What is *Target Profit Pricing*? - ANS A pricing strategy implemented by firms when they
have a particular profit goal as their overriding concern; uses price to stimulate a certain level of
sales at a certain profit per unit.
@2026 ALLRIGHTS RESERVED 1
, What is *Maximizing Profits*? - ANS A profit strategy that relies primarily on economic
theory. If a firm can accurately specify a mathematical model that captures all the factors
required to explain and predict sales and profits, it should be able to identify the price at which
its profits are maximized.
What is *Target Return Pricing*? - ANS A pricing strategy implemented by firms less
concerned with the absolute level of profits and more interested in the rate at which their
profits are generated relative to their investments; designed to produce a specific return on
investment, usually expressed as a percentage of sales.
What is *Sales Orientation*? - ANS A company objective based on the belief that increasing
sales will help the firm more than will increasing profits.
What is *Premium Pricing*? - ANS A competitor-based pricing method by which the firm
deliberately prices a product above the prices set for competing products to capture those
consumers who always shop for the best or for whom price does not matter.
What is *Competitor Orientation*? - ANS A company objective based on the premise that
the firm should measure itself primarily against its competition.
What is *Competitive Parity*? - ANS A firm's strategy of setting prices that are similar to
those of major competitors.
What is *Status Quo Pricing*? - ANS A competitor-oriented strategy in which a firm changes
prices only to meet those of competition.
What is *Customer Orientation*? - ANS A company objective based on the premise that the
firm should measure itself primarily according to whether it meets its customers' needs.
@2026 ALLRIGHTS RESERVED 2
17) QUESTIONS AND ANSWERS 100%
PASS 2026/2027
If you found this helpful, *Venmo* me @*ASerros* to show your appreciation! Good luck! -
ANS
What is the definition of *price*? - ANS The overall sacrifice a consumer is willing to make—
money, time, energy—to acquire a specific product or service.
What are the 5 C's of Pricing? - ANS Competition, Costs, Company Objectives, Customers,
Channel Members
What is *Profit-Orientation*? - ANS A company objective that can be implemented by
focusing on target profit pricing, maximizing profits, or target return pricing.
What is *Target Profit Pricing*? - ANS A pricing strategy implemented by firms when they
have a particular profit goal as their overriding concern; uses price to stimulate a certain level of
sales at a certain profit per unit.
@2026 ALLRIGHTS RESERVED 1
, What is *Maximizing Profits*? - ANS A profit strategy that relies primarily on economic
theory. If a firm can accurately specify a mathematical model that captures all the factors
required to explain and predict sales and profits, it should be able to identify the price at which
its profits are maximized.
What is *Target Return Pricing*? - ANS A pricing strategy implemented by firms less
concerned with the absolute level of profits and more interested in the rate at which their
profits are generated relative to their investments; designed to produce a specific return on
investment, usually expressed as a percentage of sales.
What is *Sales Orientation*? - ANS A company objective based on the belief that increasing
sales will help the firm more than will increasing profits.
What is *Premium Pricing*? - ANS A competitor-based pricing method by which the firm
deliberately prices a product above the prices set for competing products to capture those
consumers who always shop for the best or for whom price does not matter.
What is *Competitor Orientation*? - ANS A company objective based on the premise that
the firm should measure itself primarily against its competition.
What is *Competitive Parity*? - ANS A firm's strategy of setting prices that are similar to
those of major competitors.
What is *Status Quo Pricing*? - ANS A competitor-oriented strategy in which a firm changes
prices only to meet those of competition.
What is *Customer Orientation*? - ANS A company objective based on the premise that the
firm should measure itself primarily according to whether it meets its customers' needs.
@2026 ALLRIGHTS RESERVED 2
