Chapter 11

Question 1
1 out of 1 points

Demand influences on _______ decisions concern primarily the nature of the target market and expected reactions of consumers to a given price or change in price.

Selected Answer: Pricing
Correct Answer: Pricing

Question 2
1 out of 1 points

The __________ factors that are particularly important for pricing decisions are expected consumption rate of potential buyers, location of potential buyers, and position of potential buyers.

Selected Answer: Demographic
Correct Answer: Demographic

Question 3
1 out of 1 points

__________ factors related to pricing concern how consumers will perceive prices or price changes.

Selected Answer: Psychological
Correct Answer: Psychological

Question 4
1 out of 1 points

While psychological factors have a significant effect on the success of a pricing strategy, answers to the questions that marketing managers have, may require ___________.

Selected Answer: Considerable marketing research
Correct Answer: Considerable marketing research

Question 5
1 out of 1 points

Prestige pricing, odd pricing and ____________ are three types of psychological pricing strategy.

Selected Answer: Bundle pricing
Correct Answer: Bundle pricing

Question 6
1 out of 1 points

__________ is affected by both demographic and psychological factors.

Selected Answer: Price elasticity
Correct Answer: Price elasticity

Question 7
1 out of 1 points

Price elasticity is a measure of consumer's price sensitivity, which is estimated by dividing relative changes in the quantity sold by the _____________.

Selected Answer: Relative changes in price
Correct Answer: Relative changes in price

Question 8
1 out of 1 points

Price elasticity can be estimated from historical data or from __________ data across sales districts.

Selected Answer: Price/quantity
Correct Answer: Price/quantity

Question 9
1 out of 1 points

Price elasticity can