Marketing Exam Quiz Questions! Practice Test!

The pricing strategy used when a firm determines the cost of producing or providing its product and then adds a fixed amount above that total to arrive at the selling price:

A bookstore might purchase a book at the publisher's wholesale price and then mark it up a standard 35 percent. This is an example of what kind of pricing strategy? 

The pricing strategy used when a firm prices below, at, or above its competitors' offerings: 

A bookstore might decide to take the top 10 books on the New York Times bestseller list and price them $2 less than its primary competitors prices. This is an example of what kind of pricing strategy? 

The pricing strategy used when a firm first determines the perceived value from the customer's point of view and then prices accordingly. 

A bookstore might determine from its prior experience that students have various attitudes toward textbooks and their price. This is an example of what kind of pricing strategy?

Used by firms to collect and synthesize information about their position with respect to their rivals; enables companies to anticipate market developements rather than merely react to them. 

A paradigm for classifying people's motives. It argues that when lower-level, more basic needs (physiological and safety) are fulfilled, people turn to satisfying their higher level of human needs (social and personal)