Prices have a direct impact on a firm’s bottom line.

Question 1Prices have a direct impact on a firm’s bottom line.

True

False

Question 2Price is the most inflexible of the marketing mix elements.

True

False

Question 3Customer perceptions of the product’s value set the floor for prices.

True

False

Question 4Product costs set the ceiling for prices.

True

False

Question 5In customer value-based pricing, price is considered along with all other marketing mix variables before the marketing program is set.

True

False

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