Price strategy and sales
Price Strategy and Sales Quiz
Test your knowledge on price strategies, brand loyalty, and sales management with this comprehensive quiz! Dive into the insights of notable articles and discover the nuances of consumer behavior and pricing mechanisms.
Topics covered include:
- Brand Trust and Loyalty
- Pricing Formats
- Ethical Considerations in Sales
- Emotional Intelligence in Sales
What is Chaudhuri and Holbrook's (2001) main points?
Highlightning different determinants of retail strategy
How purchase loyalty and attitudinal loyalty affect brand performance
Highlights how maximum-, minimum-, and suggested reference prices can influence in a pay-what-you-want strategy
Highlighting the role of quality uncertainty in price bundling presentation
Which article talks about brand trust, brand affect, purchase loyalty and attitudinal loyalty?
Gauri et al, 2008
Mazumdar and Sinha, 2005
Chaudhuri and Holbrook, 2001
Silkoset, 2009
What is the main points in Gauri et al (2008)
Reference price research, normative- and aspirational reference prices
Price fairness perceptions in consumer behavior
Pricing format and store format, eg., EDLP vs HiLo vs Hybrid
Price bundling presentations, segregated vs integrated prices
Which article talks about pricing format and store format?
Gauri et al, 2008
Johnson and Cui, 2013
Kwon and Jang, 2011
Malc, Mumel and Pisnik, 2016
Which article includes this definition? "a participative pricing mechanism that delegates the whole price determination to the buyer"
Chaudhuri and Holbrook, 2001
Cadogan et al, 2009
Cialdini, 2001
Johnson and Cui, 2013
Johnson and Cui (2013) talks about ...
Maximum, minimum and suggested reference prices effect on pay-what-you-want strategies
The six principles of persuasion
Firm Generated Content in Social Media
Effects of coaching on salespeoples attitudes and behaviors
Which article talks about price bundling presentation strategies and the role of quality uncertainty?
Onyemah, 2009
Kwon and Jang, 2011
Kumar et al, 2016
Bolander et al, 2015
The more a consumer is uncertain about quality, the more..
Price conscious are they
Sensetive they are to price bundling strategies
They like good food
Malc, Mumel and Pisnik (2016) found that..
Social comparisons play an integral part in determining fairness in the shopping context
People with high Emotional intelligence usually contribute to higher sales than those with low EI
Sales research is lagging compared to whats happening in practice
Which article talks about explicit and implicit comparisons, and equity theory?
Malc, Mumel and Pisnik (2016)
Mazumdar and Sinha (2005)
Geiger and Guenzi (2009)
Sarin et al (2010)
Silkoset (2009) identifies three price strategies in norwegian firms, which?
EDLP and HiLo
Competetive pricing, Value-based pricing, Cost-plus pricing
Premium pricing and economy pricing
Skimming, penetration and neutral
Which article talks about perceived quality, perceived value and perceived price?
Zeithaml, 1988
Cialdini, 2001
Dufner et al, 2013
Verhoef, 2003
How does Zeithaml (1988) define price?
Price is, essentially, the cost of a product or service
Price is what is given up or sacrificed to obtain a product
Price is the monetary form of value of what a product is worth
Reference price, according to Mazumdar and Sinha (2005) can either be..
Expectation-based, normative and aspirational
Explicit or implicit
Internal and external
If someone pays a low price, the aspiration level of others in the social group will be adjusted..
Upward
Downward
Neutral
The six principles of persuasion consist of:
Liking, reciprocity, social proof, consistency, authority and scarcity
Liking, reciprocity, social proof, narcisissm, authority and scarcity
Liking, reciprocity, social proof, consistency, authority, transparency
Liking, reciprocity, social proof, consistency, authority and attitude
Which article talks about Firm Generated Content in social media and its effect on customer behavior?
Kumar et al, 2016
Cadogan et al, 2009
Kidwell et al, 2011
Lewin and Sager, 2010
Which Firm Generated Content construct were the most significant on consumer behavior?
FGC receptivity
FGC valence
FGC susceptibility
What should managers do to develop higher ethical standards, according to Cadogan et al (2009)?
Exhibit a less relativistic ethical philosophy, develop perceptions of job security
Give employees cake as rewards
Foster a unique organizational culture
Manipulate employees to think they do a good job
Which article talks about ethical considerations faced by sales managers, salespeople, and ethics in dealing with customers?
Cadogan et al, 2009
Sarin et al, 2010
Gauri et al, 2008
Kwon and Jang, 2011
Onyemah (2009) talks about..
Effects of coaching on salespeople's attitudes and behaviors
Narcissism
Purchase loyalty and attitudinal loyalty
Determinants of retail strategy
According to Roman and Munuera (2005), what is the most important factor in developing higher ethical standards?
Age and education
Compensation and control systems
Gender and personal interests
Coaching
The more ethical a salesperson is, the more..
Satisfied will he be with the job, and lower the level of role-conflict-intersender
Will he sell products and contribute to higher revenues
Happy he will be in everyday life
Kidwell et al (2011) talks about..
Emotional intelligence
Coping strategies on salesperson turnover intentions
Social networks in sales
Training effectiveness in technology change
High emotional intelligence contributes to.. According to Kidwell et al (2011)
Higher revenue and retainment of customers
Manipulating the customers
Better social astuteness
Higher political skill
Which article talks about coping strategies on salesperson turnover intentions?
Lewin and Sager, 2010
Sarin et al, 2010
Johnson and Cui, 2013
Roman and Munuera, 2005
What are the two coping strategies, according to Lewin and Sager (2010)?
Problem-solving approach and emotional approach
Internal- and external approach
Formality- and mandated approach
Bolander et al (2005) identified two types of social networks, which?
Relational- and positional centrality
Extroversion and introverted networks
Intra- and interorganizational networks
Which article talks about political skill as an antedecent to relational centrality?
Bolander et al (2015)
Geiger and Guenzi, 2009
Kumar et al, 2016
Cialdini, 2001
Geiger and Guenzi (2009) identified what kind of gaps in sales research?
Knowledge gaps
Practice gaps
Misalignment
Failure gaps
Which article concludes with that there is differences between academics and practitioners in sales research?
Geiger and Guenzi, 2009
Kwon and Jang, 2011
Malc, Mumel and Pisnik, 2016
Chaudhuri and Holbrook, 2001
What are the three antecedents likely to be important in effective change implementation?
Timeliness of training, formality of the training, and voluntary training
Structured, mandated and standardization
Top-down approach, formality, and classroom setting
What should one consider when implementing training programs, according to Sarin et al (2010)?
Individual differences
Learning orientation
Mandated training
Offline channels
Verhoef (2003) talks about..
Effects of CRM on customer retention
Brand trust and brand affect
Coping strategies
Emotional intelligence
What can lead to greater customer retention, according to Verhoef (2003)?
Loyalty programs with economic incentives
Firm-Generated content in social media
Developing relationship with customers
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