Started on Wednesday, 7 February 2024, 11:51 AM

State Finished
Completed on Wednesday, 7 February 2024, 12:38 PM
Time taken 46 mins 40 secs
Grade 46.00 out of 50.00 (92%)
Question 1
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Question text
What is the most important element for most business-to- business purchases?
Select one:

a.
monetary value

b.
none of the choices

c.
differentation value

d.
economic value
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Question 2
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What becomes a mechanism for raising prices for managers?
Select one:

a.
price exception

b.
strategic pricing

c.
reverse auction

d.
none of the choices
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Question 3
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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.
none of the choices

c.
value-based selling tool

d.
monetary value
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Question 4
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What price setting process develops communication plan to ensure prices are perceived to be
fair?
Select one:

a.
set initial price

b.
none of the choices

c.
communicate price to market

d.
define the price window
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Question 5
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What price setting process determines the amount of differential value to be captured with the
price?
Select one:

a.
set the initial price

b.
none of the choices

c.
communicate price to the market

d.
define the price window
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Question 6
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What stage has a critically important stage for complex goods with a high cost of search?
Select one:

a.
selection

b.
none of the choices

c.
origination
d.
information gathering
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Question 7
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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 sellers

c.
parallel traders

d.
international traders
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Question 8
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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.
selection

c.
none of the choices

d.
information gathering
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Question 9
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What type of economic value is associated with differentiation?
Select one:

a.
use value

b.
differentiation value

c.
none of the choices
d.
economic value
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Question 10
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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.
skim pricing

b.
none of the choices

c.
neutral pricing

d.
penetration pricing
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Question 11
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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.
none of the choices

d.
value based quantification
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Question 12
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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.
penetration pricing

b.
neutral pricing

c.
skim pricing
d.
none of the choices
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Question 13
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What value depends on the alternatives customers have available to satisfy the same need?
Select one:

a.
economic value

b.
all of the choices

c.
use value

d.
exchange value
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Question 14
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What do health clubs offer in order to influence value perception?
Select one:

a.
none of the choices

b.
discount card

c.
loyalty cards

d.
free trial membership
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Question 15
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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.
none of the choices

b.
economic value

c.
monetary value

d.
differentation value
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Question 16
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What refers to the many ways that a product creates innate satisfaction for the customer?
Select one:

a.
economic value

b.
psychological value

c.
monetary value

d.
none of the choices
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Question 17
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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.
price segmentation

b.
consumer surplus

c.
single-price strategy

d.
None of the choices
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Question 18
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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.
none of the choices

b.
penetration pricing

c.
sequential pricing

d.
skim pricing
 Feedback
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Question 19
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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.
total economic value

b.
monetary value

c.
psychological value

d.
differentation value
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Question 20
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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.
none of the choices

b.
pricing policy

c.
reverse auction

d.
price exceptions
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Question 21
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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.
fixed cost

b.
relative cost of search

c.
none of the choices
d.
variable cost
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Question 22
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What is designed to capture high margins at the expense of large sales volume?
Select one:

a.
penetration pricing

b.
neutral market pricing

c.
none of the choices

d.
skim pricing
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Question 23
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What is the formulas and calculations that estimate the differentiated monetary worth of each
unit of product performance?
Select one:

a.
value algorithms

b.
none of the choices

c.
value driver algorithms

d.
algorithms
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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.
total economic value

c.
differentiation value
d.
use value
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Question 25
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What rewards those customers who are aggressive negotiators?
Select one:

a.
discounts

b.
none of the choices

c.
price exceptions

d.
reverse auction
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Question 26
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What is the term for the lowest allowable price point?
Select one:

a.
price floor

b.
none of the choices

c.
price ceiling

d.
price window
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Question 27
Partially correct
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Question text
Answer by matching the right term being ask in each item.

Answer 1
What is the utility gained from the product?
use value

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 2
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)
Answer 3
What is the units to which the price is applied?
Price Metrics
a means to charge different customers different price levels for Answer 4
the same products and services using the same metrics price fences

refer to the difference between the use value of a product and Answer 5
its market price Consumer Surplus

involves winnowing the alternatives to a manageable number in

Answer 6
order to conduct a more detailed product evaluation that
selection
ultimately leads to choice
_______ is the agreement by the seller to bear part of the
Answer 7
shipping costs of the product, the amount of which depends
Freight absorption
upon the buyer’s location.
a form of self-induced buyer identification— especially through
Answer 8
the use of coupons and sales promotions, a frequent tool of
deal proneness
consumer marketers
Refers to the overall satisfaction that a customer receives from Answer 9
using a product or service offering Value

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

Answer 10
month or year rather than on the amount purchased at any one
Price Metrics
time
An ideal price metric that tie what the customer pays for a
Answer 11
product or service directly to the economic value received and
performance-based pricing
the incremental cost to serve
______ is one that causes revenues to vary with differences in Answer 12
the two key elements that drive potential profitability segmented price structure

_____ used by sales people to develop customer-specific

Answer 13
monetary value estimates with the customer in the course of a
Value based selling tool
sales call.
a critically important stage for complex goods with a high cost Answer 14
of search. origination

_______ the coordination of otherwise independent activities to Answer 15

achieve a common objective Strategy

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Question 28
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Question text
What is the requirement for strategic pricing?
Select one:

a.
exploit a market opportunity to drive volume

b.
reduce the average contribution margin across the product line

c.
None of the choices

d.
making informed trade-offs between price and volume in order to maximize profits
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Question 29
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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
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Question 30
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What refers to the overall satisfaction that a customer receives from using a product or service
offering?
Select one:

a.
value

b.
use value

c.
none of the choices

d.
economic value
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Question 31
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Question text
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.
false

b.
true

c.
neither true nor false

d.
none of the choices
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Question 32
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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.
origination

c.
selection
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Question 33
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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.
demand policy

b.
none of the choices

c.
pricing policy

d.
product policy
Feedback
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Question 34
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Question text
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.
origination

b.
information gathering

c.
selection

d.
fulfillment
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Question 35
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What is the term for the highest allowable price point?
Select one:

a.
None of the choices
b.
price floor

c.
price window

d.
price ceiling
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Question 36
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Question text
What is a tactical lever to close deals and achieve sales objectives?
Select one:

a.
none of the choices

b.
pricing

c.
selling

d.
procurement
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