Retailers such as Costco and Walmart charge a constant, daily low price with few or no temporary price discounts. This is an example of ________.
A) competition-based pricing
B) penetration pricing
C) break-even pricing
D) everyday low pricing
E) cost-plus pricing
________ is the only element in the marketing mix that produces revenue.
A) Price
B) Fixed costs
C) Variable costs
D) Product
E) Place
Distinguish between value-based pricing and cost-based pricing.
What sets the ceiling for product prices?
A) break-even volume
B) variable costs
C) product manufacturing costs
D) sellers perceptions of the products value
E) customer perceptions of the products value