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Multiple Choice Quiz
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1
All of the following examples are nonmonetary costs EXCEPT:
A)time costs
B)search costs
C)convenience costs
D)psychological costs
E)utility costs
2
Initial consumer resistance to online bill paying resulted from a _____ cost in using a new service.
A)convenience
B)monetary
C)psychological
D)time
E)search
3
_____-based pricing is used when there are a small number of large service providers.
A)Demand
B)Profit
C)Competition
D)Supply
E)Cost
4
Which of the following is an example of competition-based pricing strategy?
A)cost-plus pricing
B)going-rate pricing
C)fee for service
D)synchronized pricing
E)simultaneous pricing
5
Which of the following is NOT an effective pricing strategy to use when customers define value as "low price?”
A)odd pricing
B)synchronized pricing
C)value pricing
D)penetration pricing
E)discounting
6
Because most people like to get tattoos and body piercings on the weekends, a tattoo parlor in Portland, Maine, offers a reduced rate Monday to Thursday for all of its services. Prices on Friday and Saturday are 45 percent higher than they are during the rest of the week. The tattoo parlor is using a(n) _____ pricing strategy,
A)odd
B)synchro-
C)discounting
D)prestige
E)complementary
7
American Airlines BreakAAway fares offer travelers substantial savings on nonstop flights from Newark, New Jersey to Los Angeles from mid-August to mid-October. The round-trip airfare is $299 for customers who depart on Friday and return the following Monday or Tuesday. American Airlines is using a(n) _____ differential.
A)place
B)time
C)quality
D)incentive
E)quantity
8
In a _____ pricing strategy, new services are introduced at high prices with large promotional expenditures.
A)penetration
B)skimming
C)prestige
D)contingency
E)visible





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