Describe the five major pricing objectives discussed in the text
What will be an ideal response?
a. Penetration pricing – entails giving most of the value to the customer and keeping a small margin. The objective is to gain as much market share as possible.
b. Skimming – gives more of the cost-value gap to you than to the customer.
c. Return on sales or investment pricing – implies that you can set a price that delivers the rate of return demanded by senior management.
d. Pricing for stability – sometimes customers for industrial products are as concerned about price stability as they are about actual price levels.
e. Competitive pricing – describes a situation in which you try to price at the market average or match a particular brand's price.
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Indicate whether the statement is true or false
Which of the following holds that intrinsic factors are related to job satisfaction and extrinsic factors are related to job dissatisfaction?
A) Maslow's hierarchy of needs B) McGregor's Theory X and Theory Y C) Vroom's expectancy theory D) Herzberg's motivation-hygiene theory