Noncumulative quantity Study guides, Class notes & Summaries

Marketing 3000 Joel Poor Exam 3 (Graded) A+

How do you set a price? -establish pricing goals -estimate demand, costs, and profits -choose a price strategy to help determine a base price -fine tune the base price w/pricing tactics Define price strategy. the initial price and gives direction for price movements over the product's life cycle Define price skimming. firm charging a high introductory price, w/heavy promotion; later decrease price (above the market) When does price skimming best function? -when there...

Stage 03 - Market Feasibility Study Multiple Choice Questions 1. The first comprehensive plan you need in contemplating any new venture is called: A. A profit-loss statement B. A financial projection report C. A feasibility study D. A business plan If the feasibility study indicates that the business idea has potential, then you can proceed to write a business plan. Difficulty: Easy Learning Objective: 03-01 Explain what a feasibility study is and why you need one. Topic: 03-01 Technical...

Price the value paid for a product in a marketing exchange. Price is often the only thing a marketer can change quickly to respond to changes in demand, the actions of competitors, or the marketing environment. Value a customer's subjective assessment of benefits relative to costs in determining the worth of a product Factors influencing the assessment of value time constraints, price levels, perceived quality, and motivations to use available information about prices ba...

1. The first step in setting the right price for a new product is to estimate demand, costs, and profits. ANS: F The first step in setting the right price for a new product is to derive pricing goals from the firm's overall objectives. PTS: 1 REF: 271 OBJ: 18-1 TYPE: Def TOP: AACSB Reflective Thinking | TB&E Model Pricing 2. All pricing objectives have trade-offs that managers must weigh. ANS: T PTS: 1 REF: 271 OBJ: 18-1 TYPE: Comp TOP: AACSB Reflective Thinking | TB&E Model Pricing | TB&E Mode...

MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question. 1) The first comprehensive plan you need in contemplating any new venture is called: A) A financial projection report B) A feasibility study C) A profit-loss statement D) A business plan Answer: B 2) A typical feasibility study includes all of the following areas, except: A) International trade regulations B) The concept for your venture C) The technical feasibility of your idea D) The s...