MKTG 409 Exam 3 MindTap (Chapter 20) Study Guide: Marketing Concepts
Review
Daniel always likes to purchase popcorn when he goes to the movies. Popcorn is marked up
1,275 percent. However, Daniel is willing to pay this price. For Daniel the __________ is
impacting his view of price. - ✔✔purchase situation
_____________ is unique to price in the marketing mix. - ✔✔Flexibility
In the absence of ________________ pricing remains a flexible and convenient way to adjust
the marketing mix. - ✔✔government controls
Bert's company is about to release a new electronics product. The electronics product is
estimated to have a short life cycle before it is replaced by an upgraded one. The company
would like to recover the capital spent to produce the product. It therefore decides to charge
the highest possible price for the product upon release. Bert's firm recognizes this might
provide an advantage to competitors who may release the product at a lower price, but it
believes customers will feel that the higher price signals higher quality.
Refer to Scenario 20.1. What type of pricing objective has Bert's firm adopted? - ✔✔Cash flow
Refer to Scenario 20.1. What type of pricing strategy is Bert's company using for this product? -
✔✔Price skimming
Disney is implementing a new type of pricing. When demand increases and more customers
visit the parks, the price will increase. When demand dips during the slow season, prices will
decrease. This is a way to help balance out supply and demand. What is another name for the
type of pricing that Disney is using? - ✔✔Dynamic pricing`
Review
Daniel always likes to purchase popcorn when he goes to the movies. Popcorn is marked up
1,275 percent. However, Daniel is willing to pay this price. For Daniel the __________ is
impacting his view of price. - ✔✔purchase situation
_____________ is unique to price in the marketing mix. - ✔✔Flexibility
In the absence of ________________ pricing remains a flexible and convenient way to adjust
the marketing mix. - ✔✔government controls
Bert's company is about to release a new electronics product. The electronics product is
estimated to have a short life cycle before it is replaced by an upgraded one. The company
would like to recover the capital spent to produce the product. It therefore decides to charge
the highest possible price for the product upon release. Bert's firm recognizes this might
provide an advantage to competitors who may release the product at a lower price, but it
believes customers will feel that the higher price signals higher quality.
Refer to Scenario 20.1. What type of pricing objective has Bert's firm adopted? - ✔✔Cash flow
Refer to Scenario 20.1. What type of pricing strategy is Bert's company using for this product? -
✔✔Price skimming
Disney is implementing a new type of pricing. When demand increases and more customers
visit the parks, the price will increase. When demand dips during the slow season, prices will
decrease. This is a way to help balance out supply and demand. What is another name for the
type of pricing that Disney is using? - ✔✔Dynamic pricing`
