Which of the following statements is true of pricing decisions?
A) Market-based pricing starts with a good understanding of customer needs and the benefits that a product offers relative to competitors' products.
B) The business with the lowest price will always offer customers the best economic value.
C) It is possible to implement market-based pricing with low levels of customer and competitor intelligence.
D) Competitors' product-price positioning and company product-price positioning are the two primary determinants in setting a cost-based price.
E) Cost-based pricing takes into account what the customer would be willing to pay for a certain level of product performance.
A
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Social Security Tax Payable and Medicare Tax Payable are classified as
a. owner's equity; b. government costs; c. expenses; d. assets; e. liabilities
The text suggests benchmarking an individual’s behavior to help determine level of honesty in responses. What might this benchmarking entail?
a. asking the candidate if they have any reason to be nervous or feel threatened during the interview b. asking the candidate about their hometown or how they are feeling and noting how relaxed or nervous they are c. having another employee speak to the candidate before the interview and recording reactions d. asking the employee to describe a particularly scary incident in their life
Of the five cultural value dimensions identified by Hofstede, which cultural value dimension would present the biggest challenge if an organization’s senior leadership team was comprised of leaders from both poles of the dimension?
What will be an ideal response?
To operate ethically, teams should represent the organization's view, respect its privileged information, and ________.?
A) ?avoid advocating actions that would negatively affect members of society B) ?keep company profit and revenue as their primary focus C) ?discuss opinions and problems outside of formal team meetings D) ?limit team size to five or fewer members