Marketing Quiz

Question 1 (1 point) Imagine you’re planning an after-symphony fund-raising party, and you need a life-size grand piano cake. Or you are a developer proposing a new shopping centre to a group of investors, and you want to serve a cake shaped like an architectural rendition of the centre. Is this impossible? No, you just need to contact Cecilia Villaveces Cakes. She actually built a life-size grand piano cake for a gala in Toronto. You can expect to pay anywhere from $75 to $10,000 for one of Cecilia’s creations, depending on complexity of design and size. She uses only the best ingredients, and no two cakes are ever quite alike.

Refer to Specialty Cakes. Although many factors determine the prices charged by Cecilia Villaveces Cakes, what are the two primary determinants?
Question 1 options: | stage of the product life cycle and costs to the consumers | | the demand for the good and cost to the seller | | demand by the consumer and perceived quality | | costs of manufacturing and distribution costs |
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Question 2 (1 point) Super-Sav supermarket employees regularly shop at other local supermarkets in order to make certain that Super-Sav is charging prices comparable to the other supermarkets. What type of pricing strategy is Super-Sav using?
Question 2 options: | status quo pricing | | leader pricing | | preemptive pricing | | flexible pricing |
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Question 3 (1 point) Often a seller will establish a series of prices for a family of merchandise items. There may be several different models at specific price points but no prices in between. What is this policy called?
Question 3 options: | price bracketing | | price lining | | price bundling | | family pricing |
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Question 4 (1 point) What is the term for marketing two or more products in a single package for a special price?
Question 4 options: | price bundling | | price lining | | two-part pricing | | family pricing |