A firm that bases its price on how it thinks the competitors will price, rather than on its own costs or demand, to win a contract is most likely using A. Going-rate pricing B. Cost-plus pricing C. Perceived-value pricing D. Sealed-bid pricing

A firm that bases its price on how it thinks the competitors will price, rather than on  its own costs or demand, to win a contract is most likely using
A. Going-rate pricing
B. Cost-plus pricing
C. Perceived-value pricing
D. Sealed-bid pricing
by

1 Answer

Answer :

C. Perceived-value pricing
by

Related questions

To maximize market share, a firm may use _____________ pricing, which is based on the theory that as sales volume increases, unit costs will decrease. A. Market-penetration B. Market-skimming C. Value pricing D. Demand pricing E. Price bands

Description : To maximize market share, a firm may use _____________ pricing, which is based on the theory that as sales volume increases, unit costs will decrease. A. Market-penetration B. Market-skimming C. Value pricing D. Demand pricing E. Price bands

Last Answer : A. Market-penetration

When Fred Middleton asks the Cannon salesperson how much a desktop bond copier is going for these days, the salesperson looks in his price book and quotes Fred the firm's published price for the unit. In this instance, Cannon is using which type of pricing? A)Open bid B)Sealed bid C)Administered D)Negotiated

Description : When Fred Middleton asks the Cannon salesperson how much a desktop bond copier is going for these days, the salesperson looks in his price book and quotes Fred the firm's published price for the unit. ... , Cannon is using which type of pricing? A)Open bid B)Sealed bid C)Administered D)Negotiated

Last Answer : C)Administered

Delta Air Lines wishes to purchase five new aeroplanes. Management seeks information from several aircraft manufacturers, screens the offers, and discusses price and terms of sale with the preferred company until a transaction is completed. This method of pricing is: A)administered. B)sealed bid. C)open bid. D)negotiated.

Description : Delta Air Lines wishes to purchase five new aeroplanes. Management seeks information from several aircraft manufacturers, screens the offers, and discusses price and terms of sale with the preferred company until a ... method of pricing is: A)administered. B)sealed bid. C)open bid. D)negotiated.

Last Answer : D)negotiated.

Cost behaviour analysis is a study of how a firm's costs A. relate to competitors' costs B. relate to general price level changes C. respond to changes in activity levels within the company D. respond to changes in the gross national product

Description : Cost behaviour analysis is a study of how a firm's costs A. relate to competitors' costs B. relate to general price level changes C. respond to changes in activity levels within the company D. respond to changes in the gross national product

Last Answer : C. respond to changes in activity levels within the company

Even though a firm may have stated list prices and discount structures, the customer may pay an even lower price through what type of pricing? A)Open bidding B)Administered pricing C)Sealed bidding D)Negotiated pricing

Description : Even though a firm may have stated list prices and discount structures, the customer may pay an even lower price through what type of pricing? A)Open bidding B)Administered pricing C)Sealed bidding D)Negotiated pricing

Last Answer : D)Negotiated pricing

Carrying the line of only one manufacturer is known as A. Exclusive assortment B. Open bid C. Negotiated contract D. Deep assortment

Description : Carrying the line of only one manufacturer is known as A. Exclusive assortment B. Open bid C. Negotiated contract D. Deep assortment

Last Answer : A. Exclusive assortment

------ pricing is possible when a firm is able to reduce its manufacturing costs at a predictable rate through improved methods, materials, skills, and machinery. A)experience -curve B)price leader C)manufacturing based D)production -curve

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Last Answer : A)experience-curve

According to the text, cost tradeoffs enable firms to A)resolve pricing conflicts among competitors. B)minimise risk during the test marketing of new products. C)reduce costs of all distribution functions simultaneously. D)resolve pricing conflicts within marketing channels. E)combine resources for greatest cost -effectiveness.

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Last Answer : E)combine resources for greatest cost-effectiveness.

A firm has decided to alter its pricing and promotional strategies in response to slower than expected job growth and declining personal incomes. The firm is responding to changes in its: A. Socio-cultural environment B. Political environment C. Economic environment D. Competitive environment

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Last Answer : C. Economic environment

What is meant by focused differentiation? A. Providing a high perceived value service or product to a selected market segment that justifies a substantial price premium B. Simultaneously seeking to achieve differentiation and a price lower than that of competitors C. Concentrating on a particular feature of a product or service to achieve differentiation D. Concentrating on differentiation as the primary means of achieving competitive advantage

Description : What is meant by focused differentiation? A. Providing a high perceived value service or product to a selected market segment that justifies a substantial price premium B. ... differentiation D. Concentrating on differentiation as the primary means of achieving competitive advantage

Last Answer : Providing a high perceived value service or product to a selected market segment that justifies a substantial price premium

What is meant by focused differentiation? A. Providing a high perceived value service or product to a selected market segment that justifies a substantial price premium B. Simultaneously seeking to achieve differentiation and a price lower than that of competitors C. Concentrating on a particular feature of a product or service to achieve differentiation D. Concentrating on differentiation as the primary means of achieving competitive advantage

Description : What is meant by focused differentiation? A. Providing a high perceived value service or product to a selected market segment that justifies a substantial price premium B. ... differentiation D. Concentrating on differentiation as the primary means of achieving competitive advantage

Last Answer : Providing a high perceived value service or product to a selected market segment that justifies a substantial price premium

In market-penetration pricing, the company’s objective is to ________, believing that higher sales volume will lead to lower unit costs and higher long-run profits. A. Block competitive launches B. Maximize their market share C. Minimize their market share D. Maximize volume E. None of the above

Description : In market-penetration pricing, the company's objective is to ________, believing that higher sales volume will lead to lower unit costs and higher long-run profits. A. Block competitive launches B. ... their market share C. Minimize their market share D. Maximize volume E. None of the above

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Which of th rather than a manufacturing firm? of the following is most likely to kely to affect the location deci on decision of a service firm a. energy and utility utility costs b. attitude attitude toward unions c. parking and access d. cost of shipping shipping finished finished goods e. labor costs

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Competition -oriented pricing is: A)used when costs and revenues are considered secondary to competitors' prices. B)not useful as a method of increasing or maintaining market share. C)of little use if the competing products are homogenous. D)most often used when competing products are heterogeneous.

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Last Answer : A)used when costs and revenues are considered secondary to competitors' prices.

Which pricing strategy involves a company fixing a low price that high -cost competitors cannot match? A)Penetration pricing B)Cost -orientated pricing C)Psychological pricing D)Experience curve pricing

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Last Answer : A)Penetration pricin

At a local trade show a purchaser of office equipment discussed the price of a computer work station with a representative of Haworth office furnishings. As a result of the discussion the buyer purchased a suitable work station at a lower price than the stated list price. This type of industrial pricing is called: A)transfer. B)open bid. C)solicited D)petitioned E)open

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Normally a performance bond, depending upon the state, only stipulates that the contractor will guarantee the work for a certain period of time. Answer: D (8)Which contract type places the most risk on the seller? 1. Cost plus percentage fee 2. Cost plus incentive fee 3. Cost plus fixed fee 4. Fixed price plus incentive fee 5. Firm fixed price

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Last Answer : 5. Firm fixed price

)A new project was initiated that involves new technology and subsequently has never been done before. What type of contract would to owner want to issue to reduce or eliminate as much risk as possible. 1. Firm fixed price 2. Cost plus fix fee 3. Cost plus incentive fee 4. Lump sum 5. A and D

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Adam's Pool Service charges £50 for swimming pool cleaning performed prior to May 15 and £75 for jobs performed after that date. This pricing structure provides the benefits to Adam's of: A)price leaders. B)smoothing demand fluctuations. C)increasing service tangibility. D)tying prices to service costs.

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Last Answer : B)smoothing demand fluctuations.

15) Adam's Pool Service charges £50 for swimming pool cleaning performed prior to May 15 and £75 for jobs performed after that date. This pricing structure provides the benefits to Adam's of: A)price leaders. B)smoothing demand fluctuations. C)increasing service tangibility. D)tying prices to service costs.

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Last Answer : B)smoothing demand fluctuations.

When establishing prices, a marketer's first step is to A)determine demand. B)develop pricing objectives. C)select a pricing policy. D)evaluate competitors' prices. E)determine a pricing method.

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Last Answer : B)develop pricing objectives.

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Last Answer : C. Customer value-hierarchy

The system in which an industrial seller sets a price for a product and the customer pays that price is known as -------- pricing. A)bid B)negotiated C)administered D)fixed

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A Unit Price (UP) contract provides: 1. a reimbursement of allowable costs plus a fixed fee which is paid proportionately as the contract progresses 2. a reimbursement of allowable cost of services performed plus an agreed upon percentage of the estimated cost as profit 3. the supplier with a fixed price for delivered performance plus a predetermined fee for superior performance 4. a fixed price where the supplier agrees to furnish goods and services at unit rates and the final price is dependent on the quantities needed to carry out the work.

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Last Answer : 4. a fixed price where the supplier agrees to furnish goods and services at unit rates and the  final price is dependent on the quantities needed to carry out the work

The pricing strategy in which prices are set lower to actual price to trigger short term sales is classified as A. promotional pricing B. short term pricing C. quick pricing D. cyclical pricing

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Last Answer : A. promotional pricing

Pricing cues such as sale signs and prices that end in 9 become more influential when ________. A. Consumer price knowledge is poor B. Items are purchased frequently C. Items have been on the market a long time D. Prices are consistent year-round E. They are employed frequently

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Last Answer : A. Consumer price knowledge is poor

The maximum cost-per-click (CPC) bid is the a. Most an advertiser is wiling to pay for each click on an ad. b. Amount an advertiser must pay to outbid competitors. c. Amount an advertiser is required to pay to achieve top ad position. d. Actual amount an advertiser pays for each click on an ad.

Description : The maximum cost-per-click (CPC) bid is the a. Most an advertiser is wiling to pay for each click on an ad. b. Amount an advertiser must pay to outbid competitors. c. Amount an advertiser is required to pay to achieve top ad position. d. Actual amount an advertiser pays for each click on an ad.

Last Answer : a. Most an advertiser is wiling to pay for each click on an ad.

There is a clothing store in Bartlesville. The owner has devised his own method of pricing items. A vest costs $20, socks cost $25, a tie costs $15 and a blouse costs $30. Using the method, how much would a pair of underwear cost? -Riddles

Description : There is a clothing store in Bartlesville. The owner has devised his own method of pricing items. A vest costs $20, socks cost $25, a tie costs $15 and a blouse costs $30. Using the method, how much would a pair of underwear cost? -Riddles

Last Answer : $45. The pricing method consists of charging $5 for each letter required to spell the item.

Rather than constructing their own currency baskets, many nations peg the value of their currencies to a currency basket defined by the International Monetary Fund. Which of the following illustrates this basket? A. IMF tranche B. Special Drawing Rights C. Primary reserve asset D. Swap facility

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Last Answer : B. Special Drawing Right

When the price is less than the average variable cost, the firm should …………. (a) Continue to operate till the market recover ; (b) Shut down its operation for the time being (c) Retrench workers and pay them compensation; (d) Clear the existing stock at a price less than the prevailing price to beat the competitors

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Last Answer :  (b) Shut down its operation for the time being

When Sharp first introduced its line of reverse notation calculators, it set the price quite high; it has lowered the price as competitors have entered the market. The pricing strategy used by Sharp is called: A)customary pricing. B)penetration pricing. C)price skimming. D)prestige pricing.

Description : When Sharp first introduced its line of reverse notation calculators, it set the price quite high; it has lowered the price as competitors have entered the market. The pricing strategy used by Sharp is called: A)customary pricing. B)penetration pricing. C)price skimming. D)prestige pricing.

Last Answer : C)price skimming.

Carroll's model of social responsibility includes the social responsibilities categories _____________, ____________, and _____________ plus those at the discretion of the firm. A. consumerism; discrimination; environment B. ethical responsibilities; discrimination; legal responsibilities C. ethical responsibilities; legal responsibilities; economic responsibilities D. occupational safety; legal responsibilities; economic responsibilities

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Last Answer : B

Competitors prices and the marketing mix variables that competitors emphasise partly determine: A)the selection of a pricing policy. B)the timing of the introduction of new products. C)whether to use a pioneer or psychological pricing policy. D)how important price will be to customers.

Description : Competitors prices and the marketing mix variables that competitors emphasise partly determine: A)the selection of a pricing policy. B)the timing of the introduction of new products. C)whether to use a pioneer or psychological pricing policy. D)how important price will be to customers.

Last Answer : D)how important price will be to customers.

To gain market share Lada entered car markets with a comparatively low price. One of the negative side effects of taking this pricing position is A)a negative impact on consumers' perceptions of quality. B)competitors can match the price. C)a high return on investment levels affecting tax balances owed. D)poor survival chances in the market.

Description : To gain market share Lada entered car markets with a comparatively low price. One of the negative side effects of taking this pricing position is A)a negative impact on consumers' perceptions of ... high return on investment levels affecting tax balances owed. D)poor survival chances in the market.

Last Answer : A)a negative impact on consumers' perceptions of quality.

If Pepsi sets the price of its six pack to match exactly the price of Coca - Cola's, Pepsi is using a ------ pricing method. A)demand -oriented B)cost -oriented C)experience curve D)competition -oriented

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Last Answer : D)competition -oriented

Which of the following statements is true A. Positive stress is short-term B. Negative stress can be short or long-term C. Negative stress can lead to mental as well as physical problems D. Negative stress is perceived within our coping abilities

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Last Answer : D. Negative stress is perceived within our coping abilities

Through their contacts, experience, specialization, and scale of operation, ______________ usually offer the firm more than it can achieve on its own. A. manufacturers B. producers C. direct marketers D. intermediaries

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Last Answer : D. intermediaries

___________ is not suitable where selling price is determined on the basis of cost-plus method. A. Absorption costing B. Marginal costing C. Both a and b D. None of the above

Description : ___________ is not suitable where selling price is determined on the basis of cost-plus method. A. Absorption costing B. Marginal costing C. Both a and b D. None of the above

Last Answer : B. Marginal costing

A minor was facing a criminal prosecution for smuggling drugs. He borrowed Rs. 5000 to hire an advocate to defend him in the court of law. What is the remedy available to the creditor if the minor does not return the money on his own? A. The creditor cannot recover the amount from the minor since a contract with a minor is void ab initio B. The amount of loan can be recovered from minor’s property since it is a loan for necessaries C. The creditor can recover his amount of loan from the minor on his (minor’s) attaining the age of majority D. The creditor can recover his amount from the parent or guardian of the minor

Description : A minor was facing a criminal prosecution for smuggling drugs. He borrowed Rs. 5000 to hire an advocate to defend him in the court of law. What is the remedy available to the creditor if the ... the age of majority D. The creditor can recover his amount from the parent or guardian of the minor

Last Answer : A. The creditor cannot recover the amount from the minor since a contract with a minor is void ab initio

What is a requirement for setting pricing objectives? A)The objectives should be short-term oriented. B)There should be only one pricing objective. C)An evaluation of competitors' prices should be made. D)The cost structure should be identified. E)The objectives should be explicitly state

Description : What is a requirement for setting pricing objectives? A)The objectives should be short-term oriented. B)There should be only one pricing objective. C)An evaluation of competitors' prices should be made. D)The cost structure should be identified. E)The objectives should be explicitly stated.

Last Answer : E)The objectives should be explicitly stated.

For custom -made equipment and commercial construction projects, which pricing method is most likely to be used? A)Prestige pricing B)Markup pricing C)Return -on -investment pricing D)Cost -plus pricing

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Last Answer : D)Cost-plus pricing

Sasi is a badham merchant in kerala. He has badham in sealed wooden boxes of 15kg each. The price of the badham increases by Rs.30 per kg for every year, but at the same time, 10% of the badham are eaten by rodents every year. If the price of a 1 kg of fresh badham is Rs.240, what is the change in his profits if he sells a sealed box after one year of storage, rather than selling it fresh ?( In Rs.)

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Last Answer : Price of 1kg fresh batham= Rs.240 Therefore, price of 15kg = Rs.15*240= 3600  10% of 15kg which eaten by rodents = 10 x 15/100 = 1.5kg.  So, End of Year he had 15kg - 1.5kg = 13.5kg So, ... box with badham for Rs.3600 and sell that for Rs. 3645  So, profit = 3645-3600= Rs.45 more money he get.

Method of managing promotional budget to match outlays of competitors is called A. percentage of sales method B. affordable method C. competitive parity method D. objective and task method

Description : Method of managing promotional budget to match outlays of competitors is called A. percentage of sales method B. affordable method C. competitive parity method D. objective and task method

Last Answer : C. competitive parity method

When a seller requires that a dealer not handle competitors' products, the agreement is called a/an A. Exclusive distribution B. Exclusive dealing C. Control criterion D. Dual distribution

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Last Answer : D. Dual distribution

Intermediaries include retailers, ________, and logistical organizations. A. Internet companies B. wholesalers C. competitors D. box stores

Description : Intermediaries include retailers, ________, and logistical organizations. A. Internet companies B. wholesalers C. competitors D. box stores

Last Answer : B. wholesalers

Michael Porter has identified five forces that determine the intrinsic long-run attractiveness of a market or market segment. Which of the following would NOT be among Porter’s five forces? A. Industry competitors B. Technological partners C. Substitutes D. Buyers E. Potential entrants

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Last Answer : B. Technological partners

_______ takes place when at least one party to a potential exchange thinks about the means of achieving desired responses from other parties. A. Marketing management B. Forecasting C. Segmentation D. Targeting E. Distribution

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The type of competitive structure that exists when a firm with many potential competitors attempts to develop a differential marketing strategy to establish its own market share is 1. mixed competition 2. oligopoly 3. monopolistic competition 4. perfect competition 5. none of these

Description : The type of competitive structure that exists when a firm with many potential competitors attempts to develop a differential marketing strategy to establish its own market share is 1. mixed competition 2. oligopoly 3. monopolistic competition 4. perfect competition 5. none of these

Last Answer : perfect competition

The type of competitive structure that exists when a firm with many potential competitors attempts to develop a differential marketing strategy to establish its own market share is: A)Monopoly B)Oligopoly C)Monopolistic Competition D)Perfect Competition

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Last Answer : C)Monopolistic Competition

A firm that practices price competition engages in which one of the following strategies? A)Setting prices only as low as the second -lowest competitor B)Letting other firms cut price while it retains profitability C)Competing in both price and product differentiation D)Beating or matching the prices of competitors

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Last Answer : D)Beating or matching the prices of competitors