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

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
by

1 Answer

Answer :

D)Negotiated pricing
by

Related questions

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.

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

Description : 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

Last Answer : C)administered

In ------- bidding, several industrial sellers are asked to submit bids, and the amounts of the bids are made public. A)sealed B)negotiated C)solicited D)petitioned E)open

Description : In ------- bidding, several industrial sellers are asked to submit bids, and the amounts of the bids are made public. A)sealed B)negotiated C)solicited D)petitioned E)open

Last Answer : E)open

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

Description : 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 ... of industrial pricing is called: A)transfer. B)open bid. C)solicited D)petitioned E)open

Last Answer : D)petitioned

One advantage of non -price competition is that: A)a firm can react quickly to competitive efforts. B)market share becomes less important. C)a firm can build customer loyalty. D)pricing is no longer a success factor.

Description : One advantage of non-price competition is that: A)a firm can react quickly to competitive efforts. B)market share becomes less important. C)a firm can build customer loyalty. D)pricing is no longer a success factor.

Last Answer : C)a firm can build customer loyalty.

When an organisation sets a limited number of prices for selected groups of merchandise, this idea is commonly referred to as A)prestige pricing. B)price lining. C)customary pricing. D)odd -even pricing. E)ethical pricing.

Description : When an organisation sets a limited number of prices for selected groups of merchandise, this idea is commonly referred to as A)prestige pricing. B)price lining. C)customary pricing. D)odd-even pricing. E)ethical pricing.

Last Answer : B)price lining.

A major problem with complex pricing structures is that they A)fail to generate the level of revenues needed by an organisation. B)confuse customers and lead to customer dissatisfaction. C)sometimes lead to regulation by governmental agencies. D)are almost always viewed as being deceptive by customers.

Description : A major problem with complex pricing structures is that they A)fail to generate the level of revenues needed by an organisation. B)confuse customers and lead to customer dissatisfaction. C) ... to regulation by governmental agencies. D)are almost always viewed as being deceptive by customers.

Last Answer : B)confuse customers and lead to customer dissatisfaction.

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.

Description : 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: ... leaders. B)smoothing demand fluctuations. C)increasing service tangibility. D)tying prices to service costs.

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.

Description : 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 ... leaders. B)smoothing demand fluctuations. C)increasing service tangibility. D)tying prices to service costs.

Last Answer : B)smoothing demand fluctuations.

------ 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

Description : ------ 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

Last Answer : A)experience-curve

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

Description : 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

Last Answer : C. Perceived-value pricing

Marketers are in a better position to establish prices when: A)there is non -price competition. B)they know prices charged for competing brands. C)the main pricing objective is image building. D)they are using psychological pricing.

Description : Marketers are in a better position to establish prices when: A)there is non-price competition. B)they know prices charged for competing brands. C)the main pricing objective is image building. D)they are using psychological pricing.

Last Answer : B)they know prices charged for competing brands.

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.

A cereal company advertises that its latest product can lower cholesterol even though the company cannot prove this claim. This situation involves an ethical issue related to which element of the marketing mix? A)product B)price C)promotion D)distribution

Description : A cereal company advertises that its latest product can lower cholesterol even though the company cannot prove this claim. This situation involves an ethical issue related to which element of the marketing mix? A)product B)price C)promotion D)distribution

Last Answer : C)promotion

Tommy Hilfiger introduces a new line of men's ties targeted at men who are very statu s - conscious. In keeping with this assessment, department stores selling the ties should A)charge a price based mostly on their cost. B)charge prices consistent with their existing ties. C)discount the ties to move them rapidly. D)use the price variable symbolically.

Description : Tommy Hilfiger introduces a new line of men's ties targeted at men who are very statu s - conscious. In keeping with this assessment, department stores selling the ties should A)charge a price ... their existing ties. C)discount the ties to move them rapidly. D)use the price variable symbolically.

Last Answer : D)use the price variable symbolically.

During her first call on Becker Industries, Rhonda is told by the senior purchasing agent that this firm, like most industrial buyers, has two major complaints with its suppliers. If Rhonda's firm is to get and keep Becker's business, it must pay particular attention to product quality and: A)low prices. B)stable prices. C)packaging problems. D)sales support. E)on -time delivery.

Description : During her first call on Becker Industries, Rhonda is told by the senior purchasing agent that this firm, like most industrial buyers, has two major complaints with its suppliers. If Rhonda's firm is to ... A)low prices. B)stable prices. C)packaging problems. D)sales support. E)on-time delivery.

Last Answer : E)on-time delivery.

Price -Rite Carpets is located out -of- town, in a large, low -cost single storey building with no window displays and takes a minimilist approach to store ambiance and customer service. The Price -Rite store is an example of a: A)discount shed. B)warehouse club. C)speciality store. D)convenience store.

Description : Price -Rite Carpets is located out -of- town, in a large, low -cost single storey building with no window displays and takes a minimilist approach to store ambiance and customer service. The Price - ... an example of a: A)discount shed. B)warehouse club. C)speciality store. D)convenience store.

Last Answer : A)discount shed

Which of the following would be used in setting the price of a new product if considerable competition is expected? A)Psychological pricing B)Penetration pricing C)Odd -even pricing D)Price skimming

Description : Which of the following would be used in setting the price of a new product if considerable competition is expected? A)Psychological pricing B)Penetration pricing C)Odd -even pricing D)Price skimming

Last Answer : B)Penetration pricing

The policy that assumes that demand is relatively inelastic over certain price ranges is called A)price lining. B)odd -even pricing. C)price skimming. D)prestige pricing. E)customary pricing.

Description : The policy that assumes that demand is relatively inelastic over certain price ranges is called A)price lining. B)odd-even pricing. C)price skimming. D)prestige pricing. E)customary pricing.

Last Answer : A)price lining.

Management at Algo Electronics is having difficulty in raising the introductory price on system components to cover its increased costs. Apparently, Algo used a ________ pricing policy in pricing these components. A)odd-even B)skimming C)penetration D)psychological

Description : Management at Algo Electronics is having difficulty in raising the introductory price on system components to cover its increased costs. Apparently, Algo used a ________ pricing policy in pricing these components. A)odd-even B)skimming C)penetration D)psychological

Last Answer : C)penetration

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

Description : 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 ... C)Competing in both price and product differentiation D)Beating or matching the prices of competitors

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

If marketers in an organisation set prices to recover research and development expenses and establish a premium quality image for its product, they have in mind which type of pricing objective? A)Survival B)Return on investment C)Market share D)Product quality E)Cash flow

Description : If marketers in an organisation set prices to recover research and development expenses and establish a premium quality image for its product, they have in mind which type of pricing objective? A)Survival B)Return on investment C)Market share D)Product quality E)Cash flow

Last Answer : D)Product quality

The strategy of applying different price vleves for different customers or situation is known as ______. a) Dynamic pricing b) Online bidding c) Direct marketing d) Agent e-business model

Description : The strategy of applying different price vleves for different customers or situation is known as ______. a) Dynamic pricing b) Online bidding c) Direct marketing d) Agent e-business model

Last Answer : a) Dynamic pricing

A firm establishes which of the following pricing objectives to maintain or increase its product's sales in relation to total industry sales? A)Cash flow B)Sales potential C)Product quality D)Market share E)Status quo

Description : A firm establishes which of the following pricing objectives to maintain or increase its product's sales in relation to total industry sales? A)Cash flow B)Sales potential C)Product quality D)Market share E)Status quo

Last Answer : D)Market share

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.

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.

Description : 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.

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

Delta Airlines prices its tickets so that it is less expensive to travel on weekends than during the week when there is heavy business travel. This illustrates ________ pricing. A)seasonal B)demand -oriented C)competitive D)markup

Description : Delta Airlines prices its tickets so that it is less expensive to travel on weekends than during the week when there is heavy business travel. This illustrates ________ pricing. A)seasonal B)demand-oriented C)competitive D)markup

Last Answer : B)demand-oriented

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.

Description : 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.

Last Answer : B)develop pricing objectives.

Most pricing objectives based on ---- are achieved by trial and error because not all the cost and revenue data are available when prices are set. A)market share B)cash flow C)return on investment D)survival E)profit

Description : Most pricing objectives based on ---- are achieved by trial and error because not all the cost and revenue data are available when prices are set. A)market share B)cash flow C)return on investment D)survival E)profit

Last Answer : C)return on investment

Which of the following pricing objectives sets prices to recover cash as quickly as possible? A)Market share B)Profit C)Cash flow D)Return on investment E)Product quality

Description : Which of the following pricing objectives sets prices to recover cash as quickly as possible? A)Market share B)Profit C)Cash flow D)Return on investment E)Product quality

Last Answer : C)Cash flow

Which one of the following pricing policies may result in losing money on the product? A)Price leader B)Psychological discounting C)Penetration pricing D)Special -event pricing

Description : Which one of the following pricing policies may result in losing money on the product? A)Price leader B)Psychological discounting C)Penetration pricing D)Special -event pricing

Last Answer : A)Price leader

A representative from Coca-Cola automatically stops by a local fast-food outlet once a month to determine how much soft-drink syrup the store will need. This is an example of which type of organisational purchase: A)new-task B)modified rebuy C)straight rebuy D)negotiated

Description : A representative from Coca-Cola automatically stops by a local fast-food outlet once a month to determine how much soft-drink syrup the store will need. This is an example of which type of organisational purchase: A)new-task B)modified rebuy C)straight rebuy D)negotiated

Last Answer : C)straight rebuy

If Amstrad wants to focus its marketing efforts on price competition, the firm's long -run success will depend B)lower prices than it has historically charged. C)a promotional campaign for lower prices. D)a lower cost structure than its competitors.on having: A)lower prices than its competition.

Description : If Amstrad wants to focus its marketing efforts on price competition, the firm's long-runsuccess will depend on having: A)lower prices than its competition.B)lower prices than it has historically charged. C)a promotional campaign for lower prices. D)a lower cost structure than its competitors.

Last Answer : D)a lower cost structure than its competitors.

When the requirements associated with a new-task purchase are changed the second or third time, this is called a: A)modified rebuy purchase B)contractual purchase C)straight rebuy purchase D)negotiated rebuy purchase

Description : When the requirements associated with a new-task purchase are changed the second or third time, this is called a: A)modified rebuy purchase B)contractual purchase C)straight rebuy purchase D)negotiated rebuy purchase

Last Answer : A)modified rebuy purchase

The credit terms offered to a customer by a business firm are 2/10, n/30, which means that a. the customer must pay the bill within 10 days. b. the customer can deduct a 2% discount if the bill is paid between the 10th and 30th day from the invoice date. c. the customer can deduct a 2% discount if the bill is paid within 10 days of the invoice date. d. two sales returns can be made within 10 days of the invoice date and no returns thereafter.

Description : The credit terms offered to a customer by a business firm are 2/10, n/30, which means that a. the customer must pay the bill within 10 days. b. the customer can deduct a 2% discount if the ... date. d. two sales returns can be made within 10 days of the invoice date and no returns thereafter.

Last Answer : c. the customer can deduct a 2% discount if the bill is paid within 10 days of the invoice date.

The types of prices that appear least often in advertisements are __________ prices. A)bargain B)discount C)premium D)comparison E)sale

Description : The types of prices that appear least often in advertisements are __________ prices. A)bargain B)discount C)premium D)comparison E)sale

Last Answer : C)premium

If you were a marketing manager, under which type of organisational structure would you most likely be working if your firm were a large business with centralised marketing operations? A)Organisation by type of customer B)Functional organisation C)Organisation by regions D)Organisation by products

Description : If you were a marketing manager, under which type of organisational structure would you most likely be working if your firm were a large business with centralised marketing operations? A)Organisation by type of customer B)Functional organisation C)Organisation by regions D)Organisation by products

Last Answer : B)Functional organisation

What type of pricing policy is used in a situation in which the demand for a product is price inelastic and the seller has an ethical responsibility not to overcharge the client? A)price lining B)prestige pricing C)professional pricing D)customary pricing E)ethical pricing

Description : What type of pricing policy is used in a situation in which the demand for a product is price inelastic and the seller has an ethical responsibility not to overcharge the client? A)price lining B)prestige pricing C)professional pricing D)customary pricing E)ethical pricing

Last Answer : C)professional pricing

Eliminating a wholesaler from a marketing channel A)will cut costs and lead to lower prices. B)may or may not lower prices and will not eliminate the functions performed by the wholesaler. C)will eliminate the functions performed by the wholesaler and will lower costs. D)will reduce channel conflict.

Description : Eliminating a wholesaler from a marketing channel A)will cut costs and lead to lower prices. B)may or may not lower prices and will not eliminate the functions performed by the wholesaler. ... eliminate the functions performed by the wholesaler and will lower costs. D)will reduce channel conflict.

Last Answer : B)may or may not lower prices and will not eliminate the functions performed by the wholesaler.

A shopper approaches the store's manager and says that he has seen a blender on display he wishes to buy. The manager asks him to fill out an order form and someone from customer service would be happy to bring him a blender. The customer is shopping in a A)hypermarket. B)superstore. C)catalogue showroom. D)warehouse club. E)discount store.

Description : A shopper approaches the store's manager and says that he has seen a blender on display he wishes to buy. The manager asks him to fill out an order form and someone from customer service would ... shopping in a A)hypermarket. B)superstore. C)catalogue showroom. D)warehouse club. E)discount store.

Last Answer : C)catalogue showroom.

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

Description : 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

Last Answer : A. promotional pricing

The wheel of retailing hypothesis suggests that: A)retailers tend to provide more limited services to customers as the business ages. B)new retailers enter the market with low prices, low profit margins and low status but eventually trade up. C)as retail firms' profits increase, the service they provide to customers increases but the cost of doing business decreases. D)a retail firm must grow to compete with other retail firms on an equal basis.

Description : The wheel of retailing hypothesis suggests that: A)retailers tend to provide more limited services to customers as the business ages. B)new retailers enter the market with low prices, low profit margins ... decreases. D)a retail firm must grow to compete with other retail firms on an equal basis.

Last Answer : B)new retailers enter the market with low prices, low profit margins and low status but eventually trade up.

As they walk to the car, Elaine tells her sales representative that they may need to modify the price structure they just presented to the prospect. Elaine bases her statement on the way the prospect folded his arms when he was quoted quoted prices on the new system. The sales representative he didn't notice that. Elaine recommends a book on __________ communication. A)tactile B)proxemic C)kinesic D)verbal E)signal

Description : As they walk to the car, Elaine tells her sales representative that they may need to modify the price structure they just presented to the prospect. Elaine bases her statement on the way the ... Elaine recommends a book on __________ communication. A)tactile B)proxemic C)kinesic D)verbal E)signal

Last Answer : C)kinesic

A firm that wants to put more senior management personnel into the field to get closer to customers and to enable the company to respond more quickly and efficiently to competitors would probably organise its marketing unit on the basis of A)functions. B)regions. C)customer types. D)markets. E)products.

Description : A firm that wants to put more senior management personnel into the field to get closer to customers and to enable the company to respond more quickly and efficiently to competitors would probably organise its ... on the basis of A)functions. B)regions. C)customer types. D)markets. E)products.

Last Answer : B)regions.

Market requirements describe the A)customer needs or desired benefits. B)size of the market necessary to justify expenditures. C)events and relationships in a company's outside environment. D)key requirements of a market and the particular competencies of competing firms. E)distinctive competencies that a firm has developed.

Description : Market requirements describe the A)customer needs or desired benefits. B)size of the market necessary to justify expenditures. C)events and relationships in a company's outside environment. ... and the particular competencies of competing firms. E)distinctive competencies that a firm has developed.

Last Answer : A)customer needs or desired benefits.

It is less expensive for a firm to keep an existing customer than to find a new one.This is one reason why a firm's own personnel play a key role in delivering and maintaining customer satisfaction. Personnel are one of the elements in the elements in the ----- product. A)core B)actual C)augmented

Description : It is less expensive for a firm to keep an existing customer than to find a new one.This is one reason why a firm's own personnel play a key role in delivering and maintaining customer satisfaction. Personnel ... of the elements in the elements in the ----- product. A)core B)actual C)augmented

Last Answer : C)augmented

The two steps of developing a marketing strategy include selecting and analysing a target market and: A)selecting a group of persons towards which the firm should direct its marketing efforts. B)developing marketing objectives to meet organisation goals C)deciding how to organise the marketing department to meet customer needs. D)developing a marketing mix that precisely meets the needs of individuals in the target market.

Description : The two steps of developing a marketing strategy include selecting and analysing a target market and: A)selecting a group of persons towards which the firm should direct its marketing efforts. B) ... D)developing a marketing mix that precisely meets the needs of individuals in the target market.

Last Answer : D)developing a marketing mix that precisely meets the needs of individuals in the target market.

In the absence of __________, pricing remains a flexible and convenient way to adjust the marketing mix. A) experience -curve effects B) strong price competition C) weak price competition D) government price control E) low -priced substitute products

Description : In the absence of __________, pricing remains a flexible and convenient way to adjust the marketing mix. A) experience -curve effects B) strong price competition C) weak price competition D) government price control E) low -priced substitute products

Last Answer : D) government price control

Which of the following pricing methods is used most often by retailers? A)Markup pricing B)Price discrimination C)Price differentiation D)Return on investment E)Price skimming

Description : Which of the following pricing methods is used most often by retailers? A)Markup pricing B)Price discrimination C)Price differentiation D)Return on investment E)Price skimming

Last Answer : A)Markup pricing