Principles of Marketing, 14e (Kotler)

Chapter 10 Pricing: Understanding and Capturing Customer Value

1) ________ is the amount of money charged for a product or service.

A) Value
B) A demand
C) Price
D) A wage
E) Salary
Answer: C Diff: 1 Page Ref: 290 Skill: Concept Objective: 10-1

2) Price is the only element in the marketing mix that produces ________.
A) revenue
B) variable costs
C) expenses
D) outfixed costs
E) stability
Answer: A Diff: 2 Page Ref: 290 Skill: Concept Objective: 10-1

3) ________ is an important element in the marketing mix. It is the only element that does not represent costs.
A) Profit maximization
B) Market share leadership
C) Price
D) Product quality leadership
E) The target market
Answer: C Diff: 2 Page Ref: 290 Skill: Concept Objective: 10-1

76) Amos Zook, an Amish farmer, sells organically grown produce. Often he will trade some of his produce for dairy produc
by other Amish farmers. The sum of the values exchanged for the produce is the ________.
A) price
B) cost-plus price
C) dynamic price
D) common value price
E) penetration price
Answer: A Diff: 2 Page Ref: 290 AACSB: Analytic Skills Skill: Application Objective: 10-1