BA 370 Final Exam | Questions with 100% Correct
Answers | Verified | Latest Update 2026/2027
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Terms in this set (198)
Company Objectives Five C's of Pricing
Customers
Costs
Competition
Channel Members
A company objective that can be Profit Orientation
implemented by focusing on target
profit pricing, maximizing profits, or
target return pricing.
A pricing strategy implemented by Target Profit Pricing
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.
,A profit strategy that relies primarily Maximizing Profits
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.
A pricing strategy implemented by Target Return Pricing
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.
A company objective based on the Sales Orientation
belief that increasing sales will help
the firm more than will increasing
profits.
A competitor-based pricing method Premium Pricing
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.
A company objective based on the Competitor Orientation
premise that the firm should measure
itself primarily against its
competition.
, A firm's strategy of setting prices that Competitive Parity
are similar to those of major
competitors.
A competitor-oriented strategy in Status Quo Pricing
which a firm changes prices only to
meet those of competition.
A company objective based on the Customer Orientation
premise that the firm should measure
itself primarily according to whether
it meets its customers' needs.
Shows how many units of a product Demand Curve
or service consumers will demand
during a specific period at different
prices.
Products and services that Prestige Products or Services
consumers purchase for status rather
than functionality.
Measures how changes in a price Price Elasticity of Demand
affect the quantity of the product
demanded; specifically, the ratio of
the percentage change in quantity
demanded to the percentage
change in price.
Refers to a market for a product or Elastic or Price Sensitive
service that is price sensitive; that is,
relatively small changes in price will
generate fairly large changes in the
quantity demanded.
Answers | Verified | Latest Update 2026/2027
Save
Terms in this set (198)
Company Objectives Five C's of Pricing
Customers
Costs
Competition
Channel Members
A company objective that can be Profit Orientation
implemented by focusing on target
profit pricing, maximizing profits, or
target return pricing.
A pricing strategy implemented by Target Profit Pricing
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.
,A profit strategy that relies primarily Maximizing Profits
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.
A pricing strategy implemented by Target Return Pricing
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.
A company objective based on the Sales Orientation
belief that increasing sales will help
the firm more than will increasing
profits.
A competitor-based pricing method Premium Pricing
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.
A company objective based on the Competitor Orientation
premise that the firm should measure
itself primarily against its
competition.
, A firm's strategy of setting prices that Competitive Parity
are similar to those of major
competitors.
A competitor-oriented strategy in Status Quo Pricing
which a firm changes prices only to
meet those of competition.
A company objective based on the Customer Orientation
premise that the firm should measure
itself primarily according to whether
it meets its customers' needs.
Shows how many units of a product Demand Curve
or service consumers will demand
during a specific period at different
prices.
Products and services that Prestige Products or Services
consumers purchase for status rather
than functionality.
Measures how changes in a price Price Elasticity of Demand
affect the quantity of the product
demanded; specifically, the ratio of
the percentage change in quantity
demanded to the percentage
change in price.
Refers to a market for a product or Elastic or Price Sensitive
service that is price sensitive; that is,
relatively small changes in price will
generate fairly large changes in the
quantity demanded.
