Question 1

Quality of service depends on who provides them as to questions of when, where, and how.

Accepted Answer

Variability

Answer

Intangibility

Answer

Perishability

Answer

Inseparability

Question 2

These are the characteristics to consider in pricing your service.

Accepted Answer

perishability, intangibility, inseparability and variability

Answer

Insufficient estimation of cost related risk

Answer

low and high pricing

Answer

under pricing

Question 3

Amount of money asked or given for something.

Accepted Answer

Price

Answer

Product quality

Answer

Pricing strategies

Answer

Product

Question 4

This is a technique which aims to maximize profit.

Accepted Answer

Pricing strategy

Answer

Percent range

Answer

Price ceiling

Answer

Price floor

Question 5

Legal minimum price for a good and service offered.

Accepted Answer

Price floor

Answer

Price reference

Answer

Profit margin

Answer

Price ceiling

Question 6

Legal maximum price for goods and service.

Accepted Answer

Price ceiling

Answer

Price floor

Answer

Profit margin

Answer

Price reference

Question 7

The internal factors in pricing include:

Accepted Answer

Product cost objective and company's objectives

Answer

Price floor and price ceiling

Answer

Market demand and competition

Answer

Markup and target profit

Question 8

Most common and simplest method of setting prices.

Accepted Answer

Cost-based pricing

Answer

Competition-based pricing

Answer

Customer value-based pricing

Answer

Mark-up

Question 9

Setting prices based on customer perception of value

Accepted Answer

Customer value-based pricing

Answer

Competition-based pricing

Answer

Mark-up

Answer

Cost-based pricing

Question 10

Setting prices based on anticipated or observed price levels of competitors.

Accepted Answer

Competition-basedpricing

Answer

Cost-based pricing

Answer

Mark-up

Answer

Customer value-based pricing

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