Question 26 When Cyprus Homes began constructing houses in Oswego, IL with many
ID: 331183 • Letter: Q
Question
Question 26
When Cyprus Homes began constructing houses in Oswego, IL with many other builders, the company priced its homes slightly higher than its competitors and promoted the added quality features found in Cyprus homes. Cyprus was using a(n) ________ pricing strategy.
competition-based
improvement-based
premium
reference-based
value-based
Question 27
When Apple introduced the first iPhone, it initially set the price at $599. Apple was probably pursuing a(n) ________ pricing strategy.
cost-based
slotting allowance
market penetration
skimming
introductory
Question 28
Professor Carlson is especially price sensitive. She has been known to line up on "Black Friday" (the day after Thanksgiving) at 4 a.m. to be among the first to buy sale items. Professor Carlson would likely respond to a ________ pricing strategy.
slotting
price skimming
premium
high/low
uniform
Question 29
Toys R Us is the first retailer in town to sell PlayStation 5, Sony's lates game system. Toys R Us wants to quickly capture as much of the market for the new games as possible and keep the competition out. Toys R Us will likely use a ________ pricing strategy.
bundling
price fixing
reference
penetration
skimming
Question 30
Tesco an European discount store offers lower prices than other competitors for often-purchased items. What type of pricing strategy is Tesco exhibiting?
bait and switch
uniform delivered pricing
high/low
price skimming
EDLP
Explanation / Answer
Que 26 Value based
Que 27 Introductory
Que 28 Uniform
Que 29 Penetration
Que 30 EDLP
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