【正文】 Chapter 14: Developing Pricing Strategies and ProgramsChapter 14: Developing Pricing Strategies and ProgramsGENERAL CONCEPT QUESTIONSMultiple Choice 1. ________ municates to the market the pany’s intended value positioning of its product or brand. a. Packaging b. Price c. Placed. Promotione. Physical evidence Answer: b Page: 431 Level of difficulty: Easy2. Price has operated as the major determinant of buyer choice among poorer nations, among poorer groups, and with ________ products. a. identical b. over the Internet c. similard. moditytype e. none of the above Answer: d Page: 432 Level of difficulty: Medium3. Companies price their products in a number of ways. Small panies prices are set by the boss, in larger panies, pricing is handled by division and productline managers. In industries where price is a key factor, panies often establish a ________ department reporting to other internal departments. a. financial b. pricingc. sales d. marketing e. distribution Answer: b Page: 433 Level of difficulty: Easy4. Executives often plain that pricing is a big headache. One of the mon mistakes made are: Price is not revised often enough to capitalize on market changes。 price is set ________ of the rest of the marketing mix rather than an intrinsic element of a marketingpositioning strategy. a. divergently b. too highc. intrinsically d. independentlye. concurrently Answer: d Pages: 433–434 Level of difficulty: Medium5. “Power prices” use price as a key strategic tool. These “power pricers” have discovered the highly ________ effect of price on the bottom line. a. dramatic b. abrasive c. leveraged d. direct e. soothing Answer: c Page: 434 Level of difficulty: Medium6. Purchase decisions are based on how consumers perceive prices and what they consider to be the ________ price—not the marketer’s stated price. a. current actual b. last purchased pricec. current sale priced. referent price e. none of the above Answer: a Page 434 Level of difficulty: Medium7. The definition of ________ prices is: In considering an observed price, consumers often pare it to an internal memory reference price or an external frame of reference (such as a posted “regular retail price”). a. historical b. reference c. promotional d. everyday low pricee. none of the aboveAnswer: b Page: 434 Level of difficulty: Hard8. Many consumers use price as an indicator of ________. Image pricing is especially effective with egosensitive products such as perfumes and expensive cars. a. status b. qualityc. ability d. capabilitye. sizeAnswer: b Page: 435 Level of difficulty: Easy9. Pricing cues, such as sale signs and prices that end in a 9, bee less effective the more they are employed. Anderson and Simester maintain that they must be used judiciously on those items where consumers’ price knowledge may be poor. Which of the following is NOT one of these signs? a. Quality or sizes vary across stores.b. Product designs vary over time.c. The store caters to lowinvolvement shoppers.d. Customers are new.e. Customers purchase the item infrequently. Answer: c Page: 437 Level of difficulty: Hard10. A firm must set a price for the first time when it develops a new product, when it introduces its regular product into a new distribution channel or geographical area, and when it ________. a. needs to increase bottom line resultsb. raises prices due to cost escalation c. rolls out an improved productd. enters bids on new contract worke. changes stylesAnswer: d Page: 436 Level of difficulty: Medium11. Consumers often rank brands according to price tiers in a category. Within any tier, there is a range of acceptable prices, called ________. These provide managers with some indication of the flexibility and breadth they can adopt in pricing their brands within a particular price tier. a. price bandsb. price clustersc. price groups d. price cuese. none of the above Answer: a Page: 437 Level of difficulty: Medium12. A firm has to consider many factors in setting its pricing policy. We list these as a sixstep process. Which of the following is NOT one of these steps? a. Determining demand.b. Selecting the pricing objective.c. Researching reference prices in the target market.d. Selecting the final price. e. Selecting a pricing method. Answer: c Page: 437 Level of difficulty: Hard13. A firm first decides where it wants to position its market offering. A pany can pursue any of five major objectives through pricing. Which of the following is NOT one of these objectives? a. Predatory pricing b. Survivalc. Maximum current profitd. Maximum market sharee. Productquality leadership Answer: a Page: 437 Level of difficulty: Medium14. In marketpenetration pricing, the pany’s objective in pricing is to ________, believing that higher sales volume will lead to lower unit costs and higher longrun profits. a. block petitive launches b. maximize their market sharec. minimize their market shared. maximize volumee. none of the above Answer: b Page: 438 Level of difficulty: Easy15. Marketskimming prices make sense under the following conditions EXCEPT ________.a. the high price municates high value b. the high initial price blocks petition from entering the market c. the unit costs of producing a small number of units is highd. the product is a “metoo” and contains no new technology or points of differencee. a sufficient number of buyers have a high current demandAnswer: d Page: 438 Level of difficulty: Hard16. The first step in estimating demand is t