Question 

1
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What means that differences in pricing across customers and changes over time reflect
differences or changes in the value to customers?

Select one:
a.
proactive

b.
value based

c.
profit driven

d.
none of the choices

Question 2
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What are the two forms of differentiation value?

Select one:
a.
economic and monetary value

b.
use and economic value
 c.
monetary and psychological

d.
none of the choices

Question 3
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Answer the following questions by matching the right answer in provided answers below.
What value is calculated as the price of the customer’s
Answer 1
best alternative plus the worth of whatever
total economic value
differentiates the offering from the alternative?
What value accounts for the fact that the value one can
Answer 2
capture for commodity attributes of an offer is limited
economic value
to whatever competitors charge for them?
 the worth of whatever differentiates the offering from Answer 3
the alternative reference value

What value is the net benefits that your product or

Answer 4
service delivers to customers over and above those
differentiation value
provided by the competitive reference product?
Answer 5
the price of the customer’s best alternative
reference value

Answer 6
the utility gained from the product
use value

What refers to rules or habits, either explicit or

cultural, that determine how a company varies its
Answer 7
prices when faced with factors other than value and
pricing policy
cost to serve that threaten its ability to achieve it
objectives?
What principle means that the company evaluates its
success at price management by what it earns relative Answer 8
to alternative investments rather than by the revenue it profit driven
generates relative to its competitors.
What value represents the total cost savings or income
Answer 9
enhancements that a customer accrues as a result of
monetary values
purchasing a product?
the set of alternative products under consideration for Answer 10
purchase next best competitive alternatives

Question 4
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What value is  the heart of pricing strategy?

Select one:
a.
exchange value

b.
economic value

c.
use value

d.
none of the choices

Question 5
Complete
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What value is the most important element for most business-to- business purchases?

Select one:
a.
Monetary value

b.
use value

c.
none of the choices

d.
economic value

Question 6
Complete
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What value accounts for the fact that the value one can capture for commodity attributes of
an offer is limited to whatever competitors charge for them?

Select one:
a.
economic value
b.
differentiation value

c.
use value

d.
none of the choices

Question 7
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 Question text
What value depends on the alternatives customers have available to satisfy the same need?

Select one:
a.
use value

b.
exchange value

c.
economic value

d.
all of the choices

Question 8
Complete
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What value represents the total cost savings or income enhancements that a customer
accrues as a result of purchasing a product?

Select one:
a.
use value 

b.
all of the choices

c.
monetary value

d.
economic value

Question 9
Complete
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 Flag question

Question text
What value is maximum price that a “smart shopper,” fully informed about the market and
seeking the best value, would pay?

Select one:
a.
differentiation value

b.
none of the choices

c.
total economic value

d.
use value

Question 10
Complete
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What value represents the total cost savings or income enhancements that a customer
accrues as a result of purchasing a product?

Select one:
a.
none of the choices

b.
use value

c.
economic value
 d.
monetary value

Question 11
Complete
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What value refers to the many ways that a product creates innate satisfaction for the
customer?

Select one:
a.
monetary

b.
all of the choices

c.
economic

d.
psychological

Question 1
Complete
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What is being managed by professional procurement managers using sophisticated
information systems and aggressive negotiation tactics?

Select one:
a.
none of the choices

b.
buying decision makers

c.
buying process

d.
multiple participants

Question 2
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What do buyer considers a reasonable and fair price for a product?

Select one:
a.
value based price

b.
promotional price

c.
none of the choices

d.
reference price

Question 3
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What the stage at which the customer becomes aware of a need and begins the search for a
suitable offering to satisfy it?

Select one:
a.
selection

b.
information gathering

c.
origination

d.
fulfillment

Question 4
Complete
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What are those distributors in countries where prices are lower will ship products to one
where prices are higher, which often happens simply due to changes in currency values?

Select one:
a.
none of the choices

b.
parallel traders

c.
international traders

d.
parallel sellers

Question 5
Complete
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 Flag question

Question text
What is the term when high-end buyers perceive significantly greater value from purchasing
this product, relative to other buyers?

Select one:
a.
price segmentation

b.
single-price strategy

c.
consumer surplus

d.
None of the choices

Question 6
Complete
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What stage has a critically important stage for complex goods with a high cost of search?

Select one:
a.
none of the choices

b.
selection

c.
information gathering
 d.
origination

Question 7
Complete
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What do health clubs offer in order to influence value perception?

Select one:
a.
loyalty cards

b.
free trial membership

c.
none of the choices

d.
discount card

Question 8
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What is the central part for goods in which monetary value drivers?

Select one:
a.
none of the choices

b.
value qualification

c.
value based quantification

d.
value quantification

Question 9
Complete
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What is tendency to evaluate price differences proportionately?

Select one:
a.
reference price effect

b.
value based pricing

c.
Weber-Fechner effect

d.
none of the choices

Question 10
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Who evaluates the buyer’s willingness to pay?

Select one:
 a.
seller

b.
salesperson

c.
company owner

Question 11
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What is the agreement by the seller to bear part of the shipping costs of the product, the
amount of which depends upon the buyer’s location?

Select one:
a.
freight arragement

b.
freight absorption

c.
none of the choices

d.
shipping arrangement

Question 12
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What stage is when a customer gathers more detailed information to make choice based on
price and value?

Select one:
a.
fulfillment

b.
none of the choices

c.
information gathering

d.
selection

Question 13
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What stage is when customer collects initial product data with the objective of narrowing
down the choice set to a manageable number of options?

Select one:
a.
origination

b.
fulfillment

c.
selection

d.
information gathering

Question 14
Complete
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 Flag question

Question text
What influence reference prices strategically?

Select one:
a.
new product introduction 

b.
none of the choices

c.
pychological meaning

d.
promotional deals

Question 15
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What is the financial and nonfinancial cost, relative to the expenditure in the category, that a
customer must incur to determine differences in features and benefits across alternatives?

Select one:
a.
relative cost of search

b.
variable cost

c.
none of the choices
 d.
fixed cost

Question 16
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What is the final stage of buying process?

Select one:
a.
origination
b.
none of the choices

c.
selection

d.
fulfillment

Question 17
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What tool is used by sales people to develop customer-specific monetary value?

Select one:
a.
monetary value

b.
influence-based selling tool
 c.
none of the choices

d.
value-based selling tool

Question 18
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What facilitate segmented pricing, increasing profitability,in different customer segments?

Select one:
a.
bundling

b.
discounts

c.
none of the choices

d.
sale

Question 19
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What stage is when a customer chooses distribution channel from which to make purchase
and conducts transaction?

Select one:
 a.
fulfillment

b.
selection

c.
origination

Question 20
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What pricing is example of segmenting by time of purchase?

Select one:
a.
none of the choices

b.
bundle pricing

c.
priority pricing

d.
reference pricing

Question 1
Complete
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What do health clubs offer in order to influence value perception?

Select one:
a.
loyalty cards

b.
discount card

c.
none of the choices

d.
free trial membership
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Question 2
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What represents the total cost savings or income enhancements that a customer accrues as
a result of purchasing a product?econ

Select one:
a.
monetary value

b.
differentation value

c.
economic value

d.
none of the choices
Feedback
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Question 3
Complete
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What is the term for the highest allowable price point?

Select one:
a.
price window

b.
price ceiling

c.
None of the choices

d.
price floor
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Question 4
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What becomes a mechanism for raising prices for managers?

Select one:
a.
strategic pricing

b.
price exception
 c.
reverse auction

d.
none of the choices
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Question 5
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What pricing strategy involves a strategic decision not to use price to gain market share,
while not allowing price alone to restrict it?

Select one:
a.
neutral pricing

b.
skim pricing

c.
none of the choices

d.
penetration pricing
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Question 6
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 Question text
What pricing strategy involves a strategic decision not to use price to gain market share,
while not allowing price alone to restrict it?

Select one:
a.
neutral pricing

b.
none of the choices

c.
skim pricing

d.
penetration pricing
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Question 7
Complete
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Question text
What is the most important element for most business-to- business purchases?

Select one:
a.
differentation value

b.
economic value

c.
none of the choices

d.
monetary value
Feedback
Your answer is correct.

Question 8
Complete
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What is the requirement for strategic pricing?

Select one:
a.
reduce the average contribution margin across the product line

b.
making informed trade-offs between price and volume in order to maximize profits

c.
exploit a market opportunity to drive volume

d.
None of the choices
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Question 9
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What is the central part for goods in which monetary value drivers?

Select one:
a.
value qualification
 b.
value quantification

c.
value based quantification

d.
none of the choices
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Question 10
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What stage is when a customer gathers more detailed information to make choice based on
price and value?

Select one:
a.
selection

b.
fulfillment

c.
information gathering

d.
none of the choices
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Question 11
Complete
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 Flag question

Question text
What is the formulas and calculations that estimate the differentiated monetary worth of
each unit of product performance?

Select one:
a.
value algorithms

b.
value driver algorithms

c.
algorithms

d.
none of the choices
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Question 12
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What tool is used by sales people to develop customer-specific monetary value?

Select one:
a.
influence-based selling tool

b.
monetary value

c.
value-based selling tool

d.
none of the choices
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Question 13
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Question text
What stage has a critically important stage for complex goods with a high cost of search?

Select one:
a.
origination

b.
none of the choices

c.
selection

d.
information gathering
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Question 14
Complete
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What are the rules or habits, either explicit or cultural, that determine how a company varies
its prices when faced with factors other than value and cost that threaten its ability to
achieve its objectives?

Select one:
a.
price exceptions

b.
none of the choices

c.
pricing policy

d.
reverse auction
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Question 15
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What the stage at which the customer becomes aware of a need and begins the search for a
suitable offering to satisfy it?

Select one:
a.
information gathering

b.
selection

c.
origination

d.
fulfillment
 Feedback
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Question 16
Complete
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Answer by matching the right term being ask in each item.
Answer 1
What is the units to which the price is applied?
Price Metrics

involves winnowing the alternatives to a manageable number in

Answer 2
order to conduct a more detailed product evaluation that
selection
ultimately leads to choice
a critically important stage for complex goods with a high cost Answer 3
of search. information gathering

Who takes a personal interest in the customer, asking what the

customer does for a living (ability to pay), how long he has
lived in the area (knowledge of the market), what kinds of cars
Answer 4
she has bought before (loyalty to a particular brand), where she
salesperson
lives (value placed on the dealer’s location), and whether she
has looked at, or is planning to look at, other cars (awareness of
alternatives)
a means to charge different customers different price levels for Answer 5
the same products and services using the same metrics price fences

Refers to the overall satisfaction that a customer receives from Answer 6

using a product or service offering Value

Answer 7
What is the utility gained from the product?
use value

_____ used by sales people to develop customer-specific

Answer 8
monetary value estimates with the customer in the course of a
Value based selling tool
sales call.
An ideal price metric that tie what the customer pays for a
Answer 9
product or service directly to the economic value received and
performance-based pricing
the incremental cost to serve
refer to the difference between the use value of a product and its Answer 10
Consumer Surplus
market price Consumer Surplus

_______ the coordination of otherwise independent activities to Answer 11

achieve a common objective Strategy

_______ are based on the customer’s total purchases over a

Answer 12
month or year rather than on the amount purchased at any one
Volume discount
time
a form of self-induced buyer identification— especially through
Answer 13
the use of coupons and sales promotions, a frequent tool of
deal proneness
consumer marketers
_______ is the agreement by the seller to bear part of the
Answer 14
shipping costs of the product, the amount of which depends
Freight absorption
upon the buyer’s location.
______ is one that causes revenues to vary with differences in Answer 15
the two key elements that drive potential profitability origination

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You have correctly selected 14.

Question 17
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What price setting process determines the amount of differential value to be captured with
the price?

Select one:
a.
define the price window

b.
set the initial  price

c.
communicate price to the market

d.
none of the choices
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Question 18
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Profit-driven means that the company evaluates its success at price management by what it
earns relative to alternative investments rather than by the revenue it generates relative to
its competitors.

Select one:
a.
none of the choices

b.
false

c.
true

d.
neither true nor false
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Question 19
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What is designed to capture high margins at the expense of large sales volume?
Select one:
a.
none of the choices

b.
neutral market pricing

c.
penetration pricing

d.
skim pricing
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Question 20
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What is the term when high-end buyers perceive significantly greater value from purchasing
this product, relative to other buyers?

Select one:
a.
consumer surplus

b.
None of the choices

c.
price segmentation

d.
single-price strategy
Feedback
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Question 21
Complete
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What refers to the overall satisfaction that a customer receives from using a product or
service offering?

Select one:
a.
use value

b.
economic value

c.
none of the choices

d.
value
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Question 22
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What stage is when a customer chooses distribution channel from which to make purchase
and conducts transaction?

Select one:
a.
fulfillment

b.
selection

c.
origination
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Question 23
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What is a tactical lever to close deals and achieve sales objectives?

Select one:
a.
pricing

b.
selling

c.
procurement

d.
none of the choices
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Question 24
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What value is maximum price that a “smart shopper,” fully informed about the market and
seeking the best value, would pay?

Select one:
a.
none of the choices

b.
use value

c.
differentiation value

d.
total economic value
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Question 25
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What is the term for the lowest allowable price point?

Select one:
a.
none of the choices

b.
price floor

c.
price ceiling

d.
price window
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Question 26
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What is the financial and nonfinancial cost, relative to the expenditure in the category, that a
customer must incur to determine differences in features and benefits across alternatives?

Select one:
a.
variable cost

b.
none of the choices

c.
relative cost of search

d.
fixed cost
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Question 27
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What type of economic value is associated with differentiation?

Select one:
a.
economic value

b.
use value

c.
none of the choices

d.
differentiation value
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Question 28
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What rewards those customers who are aggressive negotiators?

Select one:
a.
none of the choices

b.
price exceptions

c.
discounts

d.
reverse auction
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Question 29
Complete
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 Flag question

Question text
What refers to the many ways that a product creates innate satisfaction for the customer?

Select one:
a.
economic value

b.
monetary value

c.
none of the choices

d.
psychological value
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Question 30
Complete
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What price setting process develops communication plan to ensure prices are perceived to
be fair?

Select one:
a.
define the price window

b.
set initial price

c.
none of the choices

d.
communicate price to market
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Question 31
Complete
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What is the maximum price that a “smart shopper,” fully informed about the market and
seeking the best value, would pay?

Select one:
a.
differentation value

b.
total economic value

c.
monetary value

d.
psychological value
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Question 32
Complete
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What refers to rules or habits, either explicit or cultural, that determine how a company
varies its prices when faced with factors other than value and cost to serve that threaten its
ability to achieve it objectives?

Select one:
a.
product policy

b.
demand policy

c.
pricing policy

d.
none of the choices
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Question 33
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Question text
What stage is when customer collects initial product data with the objective of narrowing
down the choice set to a manageable number of options?

Select one:
a.
fulfillment

b.
origination

c.
selection

d.
information gathering
 Feedback
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Question 34
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What pricing strategy involves setting a price low enough to attract and hold a large base of
customers?

Select one:
a.
sequential pricing

b.
penetration pricing 

c.
none of the choices

d.
skim pricing
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Question 35
Complete
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Question text
What are those distributors in countries where prices are lower will ship products to one
where prices are higher, which often happens simply due to changes in currency values?

Select one:
 a.
parallel traders

b.
international traders

c.
none of the choices

d.
parallel sellers
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Question 36
Complete
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Question text
What value depends on the alternatives customers have available to satisfy the same need?

Select one:
a.
exchange value

b.
all of the choices

c.
use value

d.
economic value
Feedback
Your answer is correct.