【正文】 producte. ordering ease for the productAnswer: c Page: 461 Level of difficulty: Medium47. Research on reference prices has found that “unpleasant surprises”—when perceived price is lower than the stated price—can have a ________ impact on purchase likelihood than pleasant surprises. a. brand switching b. less significantc. greaterd. lessere. none of the above Answer: c Page: 435 Level of difficulty: Hard48. To maximize market share, a firm may use _____________ pricing which sits on the theory that as sales volume increases, unit costs will decrease. a. marketpenetration b. marketskimming c. value pricingd. demand pricinge. price bandsAnswer: a Page: 438 Level of difficulty: Medium49. ________ is the result of a concentrated effort by designers, engineers, and purchasing agents to reduce the product’s overall costs. a. Learning curveb. Target costing c. Least cost producerd. Experience curvee. None of the above Answer: b Page: 443 Level of difficulty: Hard50. In recent years, panies have adopted ________ where they try to win loyal customers by charging a fairly low price for a highquality offering. a. EDLP b. highlow pricing c. value pricing d. everyday low pricing e. none of the above Answer: c Page: 446 Level of difficulty: Easy51. In ________ the retailer charges higher prices on an everyday basis but then runs frequent promotions in which prices are temporarily lowered below the EDLP level. a. goingrate pricing b. EDLP pricing c. value pricing d. highlow pricing e. everyday low pricing Answer: d Page: 447 Level of difficulty: Easy52. ________ is the direct exchange of goods, with no money and no third party involved. a. Cooptation b. Buyback c. Barter d. Offset e. Compensation Answer: c Page: 451 Level of difficulty: Easy53. The seller sells a plant, equipment, or technology to another country and agrees to accept as partial payment products manufactured with the supplied equipment in a ________. a. buyback arrangement b. cooptation c. barterd. offset e. none of the above Answer: a Page: 451 Level of difficulty: Hard54. Most panies will ________ their list price and give discounts and allowances for early payments, volume purchases, and offseason buying. a. list two prices b. increasec. reduced. adjuste. none of the above Answer: d Page: 451 Level of difficulty: Medium55. A(n) ________ is a price reduction to buyers who pay their bills promptly. a. Allowanceb. seasonal allowance c. dash discountd. quantity discounte. none of the aboveAnswer: c Page: 452 Level of difficulty: Easy56. When different customer groups are charged different prices for the same product or service, it is called ________. a. price discrimination b. customersegment pricing c. illegald. productform pricing e. channel pricing Answer: b Page: 453 Level of difficulty: Medium 57. Prices that vary by time of the day, the season of the year, or the day of the week are called ________. a. discounting b. time pricing c. price discrimination d. product form pricinge. channel pricing Answer: b Page: 454 Level of difficulty: Medium58. One of the traps of instituting a price decrease is when that low price buys market share in the short term. The same customers will shift to any lowerpriced product that may e along. This trap is called ________. a. low price trap b. market loyalty trapc. shallowpockets trapd. lowquality trape. fragilemarketshare trap Answer: e Page: 455 Level of difficulty: Medium59. All of the following EXCEPT _____________ are conditions that must exist for price discrimination to work. a. the practice must not be illegal b. the practice must not breed customer resentmentc. petitors must not be able to undersell the firm in the high segmentd. market must be homogeneous e. none of the above Answer: d Page: 455 Level of difficulty: Hard60. The most elementary pricing method is to add a standard ________ to the product’s cost. a. target margin b. target pricec. markupd. margine. targetreturn Answer: c Page: 444 Level of difficulty: Easy True/False 61. Price is one of the two elements of the marketing mix that produces revenue. Answer: False Page: 431 Level of difficulty: Easy62. A welldesigned and marketed product can mand a price premium and reap big profits. Answer: True Page: 431 Level of difficulty: Easy 63. Companies, surprisingly, price their products in very similar ways. Answer: False Page: 433 Level of difficulty: Medium64. Traditionally, price has operated as the major determinant of a buyer’s choice. Answer: True Page: 432 Level of difficulty: Medium65. Effectively designing and implementing a successful pricing strategy is as much about luck as it is about understanding consumerpricing psychology. Answer: False Page: 434 Level of difficulty: Medium66. Purchase decisions are based on how consumers perceive prices and what they consider the current actual price and not the marketer’s stated price. Answer: True Page: 434 Level of difficulty: Medium67. Many consumers use price as an indicator of quality and value. Answer: True Page: 435 Level of difficulty: Medium68. The price a firm charges for its product does not affect where it chooses to position the product in the marketplace. Answer: False Page: 436 Level of difficulty: Hard69. Consumers often rank brands according to price tiers in a category. Answer: True Page: 437 Level of difficulty: Medium 70. Trying to maximize market share a firm would be best served to use a marketskimming pricing strategy. Answer: False Page: 438 Leve