In value pricing, a firm seeks to maintain pricing parity with the competition.

Tiffany, Rolex, Gucci, and Prada represent exclusivity, meaning their prices are mostly inelastic.

Since it involves the use of a high price relative to prices of competing products or services, the skimming pricing strategy is sometimes referred to as _____ pricing.

Which of the following statements is true about the forecasting technique known as “trend analysis”?

Overall organizational objectives and more specific marketing objectives guide the development of pricing objectives, which in turn lead to the development and implementation of more specific pricing policies and procedures.

Match each item with the correct statement below. (2 pts ea) –

The amount of product that must be sold at a given price to generate sufficient revenue to cover total costs – both fixed and variable is the:

A product’s life cycle stage often determines the optimal communication vehicle to utilize. When a product reaches the growth stage, firms should increase advertising expenditures in order to persuade and remind consumers to make purchases.

Many firms attempt to promote stable prices by meeting competitors’ prices and competing for market share by focusing on the overall value.

An important advantage of personal selling is that it gives the customer the opportunity to try a product before making a purchase.