3/26/2021 Quiz 3.

2b

Quiz 3.2b Total points 20/20

The respondent's email address (premba21106@student.isb.edu.vn) was recorded on

submission of this form.

Whizz Corp. wishes to introduce a new hybrid car into mature markets in 1/1
developed countries with the goal of gaining mass-market share quickly.
Which of the following pricing strategies would help the firm meet its
goal? *

market-skimming pricing

market-penetration pricing

market-segmentation pricing

cost-plus pricing

captive-product pricing

Which of the following companies uses product bundle pricing? * 1/1

Photo Genie, which sells inexpensive cameras that run only on their own, expensive,
batteries

Go Zone, which launched a range of tablet models, each priced according to its
features

Penguin's Parlor, which offers customers a 20 percent discount on their birthdays

Green Thumb, which gives away free watering cans with the purchase of certain
potted plants

Panizza, whose combo meals are priced lower than its individual components
sold together

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3/26/2021 Quiz 3.2b

A lumber mill takes in logs, turns them into 2 x 4's and other sizes needed 1/1
for building construction. Wood chips created in the milling process are
a(n) ________ that can be sold. *

bundled product

captive product

by-product

optional product

primary product

Hearth & Home, a store which sells household products, has announced 1/1
a one-week sale on its new carpet line. This is an example of ________. *

promotional pricing

seasonal pricing

by-product pricing

product bundle pricing

time-based pricing

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3/26/2021 Quiz 3.2b

Companies that set a low price for a new product in order to attract a 1/1
large number of buyers and a large market share are using the ________
strategy. *

market-skimming pricing

market-penetration pricing

cost-plus pricing

inclusive pricing

exclusive pricing

Pricing strategies tend to change and evolve as the average product 1/1
passes through its life cycle. *

True

False

Sparkling Valley, a luxury resort, prices cottages facing the lake higher 1/1
than cottages that do not, even though the cottages and services
offered are identical in every other aspect. This form of pricing is called
________ pricing. *

location-based

time-based

by-product

seasonal

captive product

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3/26/2021 Quiz 3.2b

________ allowances are price reductions given for turning in an old item 1/1
when buying a new one. *

Promotional

Trade-in

Depreciation

Segmented

Functional

La Belle released a cut glass bottle of perfume at $299 per item, even 1/1
though its major competitor prices its signature scent at $99 per item. La
Belle reasons that customers in search of luxury goods will prefer its
product because they are likelier to believe that high price indicates
superior quality. What price adjustment strategy is evident in its
reasoning? *

seasonal pricing

time-based pricing

captive product pricing

psychological pricing

location-based pricing

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3/26/2021 Quiz 3.2b

In a bid to attract more customers in a market that has several 1/1

competitors, Barrymore's Bakery slashed the prices of all its products by
50 percent. Managers at the firm reasoned that lower prices would draw
in even more customers, making up for the reduction in price several
times over. Which of the following pricing strategies are they using? *

market-skimming pricing

market-penetration pricing

captive-product pricing

cash discount pricing

by-product pricing

Which of the following companies uses product line pricing? * 1/1

Photo Genie, which sells inexpensive cameras that run only on their own expensive
batteries

Mobile Point, which launched a range of cell phone models, each priced
according to its features

Penguin's Parlor, which offers customers a 20-percent discount on their birthdays

and certain holidays

Green Thumb, which gives away free watering cans with the purchase of certain
potted plants

Panizza, whose combo meals are priced lower than the individual components sold
together

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3/26/2021 Quiz 3.2b

A market-skimming pricing strategy should NOT be used for a new 1/1

product when ________. *

the product's quality and image support its higher price

enough buyers want the products at that price

competitors are unable to enter the market

competitors can undercut prices easily

producing a smaller number of goods is feasible

Which of the following product mix pricing strategies did Polaroid use 1/1
when it set the general price range of its cameras low and the markup on
its film high? *

product-segmented pricing

by-product pricing

customer-segmented pricing

captive product pricing

product bundling pricing

When a firm varies its price by the season, it is using ________ pricing. * 1/1

product form

customer-segment

location-based

time-based

value-added

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3/26/2021 Quiz 3.2b

Companies facing the challenge of setting prices for the first time can 1/1
choose between two broad strategies: market-penetration pricing and
________ pricing. *

comparative

competitive

market-skimming

market-segmentation

cost-plus

Solar Tanning Salon prices tanning sessions at $25 per visit. It also offers 1/1
seasonal passes for $175 that allow the customer to visit the salon
multiple times in a year. This is an example of a ________. *

sample

promotional allowance

product bundle

discount

product line

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3/26/2021 Quiz 3.2b

________ are formed by noting current prices, remembering past prices, 1/1
or assessing the buying situation. *

Product line prices

Seasonal prices

Reference prices

Time-based prices

Product bundle prices

Which of the following product mix pricing strategies involves pricing 1/1
additional or accessory products sold along with the main product? *

inclusive product pricing

exclusive product pricing

by-product pricing

product bundle pricing

optional-product pricing

Which of the following is true of promotional pricing? * 1/1

It leads to 'deal-prone' customers who buy products only during sales.

It fortifies the brand's image in the eyes of customers if relied upon extensively.

It simplifies shopping for customers if used simultaneously by multiple stores.

It makes balancing short-term sales incentives against long-term brand building

unnecessary.

It is extremely beneficial for the brand's profitability if practiced repeatedly.

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3/26/2021 Quiz 3.2b

The New Age Gallery has three admission prices for students, adults, and 1/1
seniors, even though all three groups are entitled to the same services.
This form of pricing is called ________ pricing. *

psychological

product form

customer-segment

captive product

by-product

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