Pricing Strategies

chapter 7 review questions

7. What should a seller want to know about the IRPs of his or her customers? How could the

seller use this information?

8. When would it be in a sellers interest to increase customer price-level awareness? When

would it be in his or her interest to decrease customer price-level awareness?

chapter 8 review questions

4. Explain how the consumers internal reference price determines whether a price is perceived as a single loss, two losses, or a loss and a gain.

5. When might it be particularly appropriate to decrease the size of a product rather than

increase its price?