kotler / armstrong 11e, chapter 10 _____ is the sum of values that consumers exchange for the...
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![Page 1: Kotler / Armstrong 11e, Chapter 10 _____ is the sum of values that consumers exchange for the benefits of having or using a product or service. 1.Place](https://reader035.vdocuments.net/reader035/viewer/2022070406/56649de85503460f94ae2b49/html5/thumbnails/1.jpg)
Kotler / Armstrong 11e, Chapter 10
_____ is the sum of values that consumers exchange for the benefits of having or using a product or service.
1. Place
2. Purchase
3. Price
4. Premium
![Page 2: Kotler / Armstrong 11e, Chapter 10 _____ is the sum of values that consumers exchange for the benefits of having or using a product or service. 1.Place](https://reader035.vdocuments.net/reader035/viewer/2022070406/56649de85503460f94ae2b49/html5/thumbnails/2.jpg)
Kotler / Armstrong 11e, Chapter 10
_____ is the sum of values that consumers exchange for the benefits of having or using a product or service.
1. Place
2. Purchase
3. Price
4. Premium
![Page 3: Kotler / Armstrong 11e, Chapter 10 _____ is the sum of values that consumers exchange for the benefits of having or using a product or service. 1.Place](https://reader035.vdocuments.net/reader035/viewer/2022070406/56649de85503460f94ae2b49/html5/thumbnails/3.jpg)
Kotler / Armstrong 11e, Chapter 10
The Internet is potentially changing pricing practices from _____ to _____.
1. fixed; dynamic
2. dynamic; fixed
3. value; premium
4. external; internal
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Kotler / Armstrong 11e, Chapter 10
The Internet is potentially changing pricing practices from _____ to _____.
1. fixed; dynamic
2. dynamic; fixed
3. value; premium
4. external; internal
![Page 5: Kotler / Armstrong 11e, Chapter 10 _____ is the sum of values that consumers exchange for the benefits of having or using a product or service. 1.Place](https://reader035.vdocuments.net/reader035/viewer/2022070406/56649de85503460f94ae2b49/html5/thumbnails/5.jpg)
Kotler / Armstrong 11e, Chapter 10
eBay.com is an example of a company that uses _____ pricing.
1. fixed
2. dynamic
3. prestige
4. value
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Kotler / Armstrong 11e, Chapter 10
eBay.com is an example of a company that uses _____ pricing.
1. fixed
2. dynamic
3. prestige
4. value
![Page 7: Kotler / Armstrong 11e, Chapter 10 _____ is the sum of values that consumers exchange for the benefits of having or using a product or service. 1.Place](https://reader035.vdocuments.net/reader035/viewer/2022070406/56649de85503460f94ae2b49/html5/thumbnails/7.jpg)
Kotler / Armstrong 11e, Chapter 10
Which of the elements in the marketing mix produce revenue?
1. promotion
2. product
3. price
4. all of the above
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Kotler / Armstrong 11e, Chapter 10
Which of the elements in the marketing mix produce revenue?
1. promotion
2. product
3. price
4. all of the above
![Page 9: Kotler / Armstrong 11e, Chapter 10 _____ is the sum of values that consumers exchange for the benefits of having or using a product or service. 1.Place](https://reader035.vdocuments.net/reader035/viewer/2022070406/56649de85503460f94ae2b49/html5/thumbnails/9.jpg)
Kotler / Armstrong 11e, Chapter 10
One problem with pricing is that managers are often too quick to reduce their price, rather than to convince their buyers that their product is worth the higher cost.
1. True
2. False
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Kotler / Armstrong 11e, Chapter 10
One problem with pricing is that managers are often too quick to reduce their price, rather than to convince their buyers that their product is worth the higher cost.
1. True
2. False
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Kotler / Armstrong 11e, Chapter 10
Which of the following is not an internal factor affecting pricing?
1. marketing objectives
2. marketing mix strategy
3. costs
4. competition
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Kotler / Armstrong 11e, Chapter 10
Which of the following is not an internal factor affecting pricing?
1. marketing objectives
2. marketing mix strategy
3. costs
4. competition
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Kotler / Armstrong 11e, Chapter 10
A product that is high in quality and available in a limited number of outlets will probably have a _____.
1. high price
2. low price
3. discounted price
4. none of the above
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Kotler / Armstrong 11e, Chapter 10
A product that is high in quality and available in a limited number of outlets will probably have a _____.
1. high price
2. low price
3. discounted price
4. none of the above
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Kotler / Armstrong 11e, Chapter 10
Target costing involves designing a new product, determining its cost, and then asking, “Can we sell it for that?”
1. True
2. False
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Kotler / Armstrong 11e, Chapter 10
Target costing involves designing a new product, determining its cost, and then asking, “Can we sell it for that?”1. True2. False (Target costing starts with setting an
ideal price based on customer considerations then targets the costs to see that the price is met.)
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Kotler / Armstrong 11e, Chapter 10
_____ costs do not vary with production or sales level.
1. Materials
2. Fixed
3. Total
4. Value
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Kotler / Armstrong 11e, Chapter 10
_____ costs do not vary with production or sales level.
1. Materials
2. Fixed
3. Total
4. Value
![Page 19: Kotler / Armstrong 11e, Chapter 10 _____ is the sum of values that consumers exchange for the benefits of having or using a product or service. 1.Place](https://reader035.vdocuments.net/reader035/viewer/2022070406/56649de85503460f94ae2b49/html5/thumbnails/19.jpg)
Kotler / Armstrong 11e, Chapter 10
The _____ shows the drop in average costs with accumulated production experience.
1. learning curve
2. demand curve
3. cost curve
4. all of the above
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Kotler / Armstrong 11e, Chapter 10
The _____ shows the drop in average costs with accumulated production experience.
1. learning curve
2. demand curve
3. cost curve
4. all of the above
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Kotler / Armstrong 11e, Chapter 10
Which type of market consists of many buyers and sellers who trade over a range of prices rather than a single market price?
1. pure competition
2. monopolistic competition
3. oligopolistic competition
4. pure monopoly
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Kotler / Armstrong 11e, Chapter 10
Which type of market consists of many buyers and sellers who trade over a range of prices rather than a single market price?
1. pure competition
2. monopolistic competition
3. oligopolistic competition
4. pure monopoly
![Page 23: Kotler / Armstrong 11e, Chapter 10 _____ is the sum of values that consumers exchange for the benefits of having or using a product or service. 1.Place](https://reader035.vdocuments.net/reader035/viewer/2022070406/56649de85503460f94ae2b49/html5/thumbnails/23.jpg)
Kotler / Armstrong 11e, Chapter 10
Which type of market has few sellers who are very sensitive to each other’s prices?
1. pure competition
2. monopolistic competition
3. oligopolistic competition
4. pure monopoly
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Kotler / Armstrong 11e, Chapter 10
Which type of market has few sellers who are very sensitive to each other’s prices?
1. pure competition
2. monopolistic competition
3. oligopolistic competition
4. pure monopoly
![Page 25: Kotler / Armstrong 11e, Chapter 10 _____ is the sum of values that consumers exchange for the benefits of having or using a product or service. 1.Place](https://reader035.vdocuments.net/reader035/viewer/2022070406/56649de85503460f94ae2b49/html5/thumbnails/25.jpg)
Kotler / Armstrong 11e, Chapter 10
A(n) _____ curve shows the number of units the market will buy in a given time period at different prices that might be charged.
1. demand
2. elastic
3. experience
4. reverse
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Kotler / Armstrong 11e, Chapter 10
A(n) _____ curve shows the number of units the market will buy in a given time period at different prices that might be charged.
1. demand
2. elastic
3. experience
4. reverse
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Kotler / Armstrong 11e, Chapter 10
If demand changes greatly with a small change in price, we say the demand is _____.
1. inelastic
2. elastic
3. sensitive
4. reversed
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Kotler / Armstrong 11e, Chapter 10
If demand changes greatly with a small change in price, we say the demand is _____.
1. inelastic
2. elastic
3. sensitive
4. reversed
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Kotler / Armstrong 11e, Chapter 10
Which of the following is(are) not an external consideration when setting prices?
1. costs
2. the government
3. social concerns
4. resellers
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Kotler / Armstrong 11e, Chapter 10
Which of the following is(are) not an external consideration when setting prices?
1. costs
2. the government
3. social concerns
4. resellers
![Page 31: Kotler / Armstrong 11e, Chapter 10 _____ is the sum of values that consumers exchange for the benefits of having or using a product or service. 1.Place](https://reader035.vdocuments.net/reader035/viewer/2022070406/56649de85503460f94ae2b49/html5/thumbnails/31.jpg)
Kotler / Armstrong 11e, Chapter 10
The simplest pricing method is _____.
1. break-even pricing
2. cost-plus pricing
3. value-based pricing
4. competition-based pricing
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Kotler / Armstrong 11e, Chapter 10
The simplest pricing method is _____.
1. break-even pricing
2. cost-plus pricing
3. value-based pricing
4. competition-based pricing
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Kotler / Armstrong 11e, Chapter 10
If a reseller buys a product from a manufacturer for $20 and wants to mark it up 50%, what will the new price be?
1. $30
2. $40
3. $25
4. none of the above
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Kotler / Armstrong 11e, Chapter 10
If a reseller buys a product from a manufacturer for $20 and wants to mark it up 50%, what will the new price be?
1. $30
2. $40 (Markup price = unit price/(1-desired return on sales)
3. $25
4. none of the above
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Kotler / Armstrong 11e, Chapter 10
What is the break-even volume for a company with fixed costs of $50k, variable costs of $20 and a price of $30/unit?
1. 500
2. 1000
3. 5000
4. 2500
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Kotler / Armstrong 11e, Chapter 10
What is the break-even volume for a company with fixed costs of $50k, variable costs of $20 and a price of $30/unit?
1. 500
2. 1000
3. 5000 (BE volume = FC/(Price–VC)
4. 2500
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Kotler / Armstrong 11e, Chapter 10
Value-based pricing uses the buyer’s perception of value to set prices.
1. True
2. False
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Kotler / Armstrong 11e, Chapter 10
Value-based pricing uses the buyer’s perception of value to set prices.
1. True
2. False
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Kotler / Armstrong 11e, Chapter 10
According to the text, competition-based pricing is popular in _______ markets.
1. pure competition
2. pure monopoly
3. monopolistic competition
4. oligopolistic competition
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Kotler / Armstrong 11e, Chapter 10
According to the text, competition-based pricing is popular in _______ markets.
1. pure competition
2. pure monopoly
3. monopolistic competition
4. oligopolistic competition