When General Motors introduced the Saturn, it priced the SL sports sedan at $2,000 less than the Toyota Corolla DLX and $1,500 less than comparable Nissan and Honda automobiles. This is an example of the _____ pricing strategy.

Breakeven analysis is an effective tool for marketers in assessing the sales required for covering costs and achieving specified profit levels.

The price elasticity of demand (or elasticity of demand) is the percentage change in the quantity of a good or service demanded divided by the percentage change in its price.

In most economies, _______refers to the amount of funds required to purchase a product.

The price of products only includes the costs incurred by the manufacturer for procuring the raw material and for processing the products.

“Buy three shock absorbers and get the fourth free,” as advertised by an auto repair shop, is an example of _____ pricing.

Which of the following pricing strategies tries to reduce the emphasis on price as a competitive weapon?

A cost that changes with the level of production is called a(n) _____ cost.

A skimming pricing strategy is more commonly used by firms to:

If consumers can easily find close substitutes for a good or service, the product’s demand tends to be inelastic.