Chapter 14

Question 1

Setting the highest initial price that customers who really desire the product are willing to pay

Answer 1

Skimming Pricing

Question 2

Setting a low initial price on a new product to appeal immediately to the mass market

Answer 2

Penetration Pricing

Question 3

Setting a high price so that quality or status conscious consumers will be attracted to the product and buy it

Answer 3

Prestige Pricing

Question 4

Setting Prices a few dollars or cents under an even number

Answer 4

Odd-even pricing

Question 5

When a firm is selling not just a single product but a line of products which may price them at a number of different specific pricing points

Answer 5

Price Lining

Question 6

When a manufacturer deliberately adjusting the composition and features of a product to achieve the target price to consumers

Answer 6

Target Pricing

Question 7

The marketing of two or more products in a single package price( ex: combo meals at fast food restaurants )

Answer 7

Bundle Pricing