1. When planning for successful pricing, the value strategies created by balancing company objectives, competition, costs, customers and channel members are called ____________________.

a. the five C's of pricing

b. the price standardization equation

c. a service capacity evaluation

d. the five C's of customer service

2. Price skimming occurs when ______________________________________ are willing to pay a high price in order to obtain a new product or service.

a. early majority buyers

b. late majority buyers

c. laggards

d. innovators and early adopters