Question 81. In ________________ pricing, the firm first deter

81. In ________________ pricing, the firm first determines the perceived worth of the product from the customer’s point of view and then prices accordingly.
A. product-based
B. cost-based
C. competitor-based
D. management-based
E. value-based

82. One clothing manufacturer, with factories both in the U.S. and Mexico, recognized many Mexican consumers prefer American-made products. The company then produced higher-cost jeans in the U.S. so they could sell them at a premium in Mexico with a Made in USA label. This firm was pursuing a ______________ pricing strategy.
A. promotion-based
B. cost-based
C. competitor-based
D. value-based
E. management-based

83. Passengers on international air flights are often shocked to learn the variation in prices each passenger paid for the same ticket. The passengers are learning about ___________ pricing.
A. competitor-based
B. cost-based
C. value-based
D. management-based
E. product-based

84. The difficulty in implementing value-based pricing is:
A. it is too simple and can easily be replicated by competitors.
B. it is sometimes hard to determine perceived value among customers.
C. the time it takes to estimate the cost of products.
D. government regulations may prevent such strategies.
E. consumers do not know what they value.

85. Value-based pricing is one of the least understood areas of business decision-making, even though it is one of the few business activities with a direct impact on:
A. promotion.
B. distribution.
C. profits.
D. product assortment.
E. relative market mission

86. Value creation through place decisions involves:
A. putting the product prominent place.
B. creative displays to capture consumers’ attention.
C. pricing products with place in mind.
D. making the good or service available when and where the customer wants it.
E. all of the above

87. E-books, in addition to being an alternative product form, provide __________ value creation through access via the Internet.
A. product
B. place

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