Question 1
5 out of 5 points
Correct
The purpose of strategic pricing is to _____.
Answer
Selected Answer: improve profits by capturing more value rather than making more sales
Correct Answer: improve profits by capturing more value rather than making more sales
Question 2
5 out of 5 points
Correct
To create value in a product and price it profitably, financial management must choose to _____.
Answer
Selected Answer: incur costs to make only profitable products given their value to the targeted customer
Correct Answer: incur costs to make only profitable products given their value to the targeted customer
Question 3
5 out of 5 points
Correct
Pricing that reflects market conditions is _____.
Answer
Selected Answer: customer-driven pricing
Correct Answer: customer-driven pricing
Question 4
5 out of 5 points
Correct
The key actions for price setting involve _____.
Answer
Selected Answer: setting appropriate pricing objectives, calculating price-volume trade-offs, and assessing drivers of price sensitivity that are unrelated to value
Correct Answer: setting appropriate pricing objectives, calculating price-volume trade-offs, and assessing drivers of price sensitivity that are unrelated to value
Question 5
5 out of 5 points
Correct
_____ allows a company to vary its prices outside the scope of value and cost according to explicit or cultural rules or protocols.
Answer
Selected Answer:
Pricing policy
Correct Answer:
Pricing policy
Question 6
5 out of 5 points
Correct
Customer-driven pricing may depress profits because _____.
Answer
Selected Answer: pricing for short term sales objectives often undermines perceived value by customers
Correct Answer: pricing for short term sales objectives often undermines perceived value by customers
Question 7
5 out of 5 points
Correct
Total