Pricing: Understanding and Capturing Customer Value

According to the narrowest definition, what is price?

What is the unique characteristic of price within the marketing mix?

What factor sets the ceiling for a product's price, according to the major considerations in setting price?

Which pricing strategy is product-driven, starting with designing a good product and setting a price that covers costs plus a target profit?

Offering the right combination of quality and good service at a fair price is characteristic of which pricing strategy?

What strategy involves attaching features and services to differentiate a company's offers and support higher prices, rather than cutting prices to match competitors?

A toaster manufacturer has a variable cost of $10 per unit, fixed costs of $300,000, and expects to sell 50,000 units. What is the unit cost per toaster?

If a manufacturer's unit cost for a product is $16 and they want to achieve a 20 percent return on sales, what would be the markup price?

A company has fixed costs of $300,000 and a variable cost of $10 per unit. If the company sells its product for $20, what is the break-even volume in units?

According to the analysis of break-even volume and profits for a toaster manufacturer, which price point yields the highest profits?

What is the primary goal of competition-based pricing?

In the Caterpillar bulldozer example, what was the total value-added price for the bulldozer before the discount was applied?

Which type of market is characterized by many buyers and sellers trading over a range of prices rather than a single market price, allowing for differentiation?

What does a typical demand curve illustrate?

If demand for a product changes greatly with a small change in price, the demand is considered to be what?

What is the primary motivation for companies to use target costing?

In a market characterized by pure competition, how much time do sellers typically spend on marketing strategy?

Which of these is an example of an internal factor affecting a company's pricing decisions?

In a market characterized by oligopolistic competition, what is the nature of the sellers?

What was the response of many consumers to the Great Recession of 2008-2009, which has persisted even after the economy strengthened?

Why do smart managers often embrace pricing instead of treating it as a problem?

In the context of pricing strategies, what does EDLP stand for?

A retailer that frequently runs sales promotions, early-bird savings, and offers bonus earnings for store credit-card holders is practicing which type of pricing?

What is the primary driver for a company to pursue a cost-based pricing strategy?

The experience curve, or learning curve, describes what phenomenon?