The utility that is created by moving goods from production ...

[KimWrice]

The utility that is created by moving goods from production points to market points where demand exists is referred to as:
 a. Form
  b. Place
  c. Time
  d. Possession

Question 2

Describe three ways a company can set a price.

[soda0602]

Answer to Question 1

b

Answer to Question 2

Low:
 Cost-plus pricing: mark up above average cost
 Loss leader: sell below cost to bring in customers for other products
 Penetrate market: price low to attract volume
 Nearly predatory: price so low as to discourage competitors
Medium:
 Competitive: What's the going rate?
 Price slightly below for perception of good value
 Price slightly above if you offer more benefits or have any brand equity
High:
 Skim market: price high for margins, not worrying about volume yet
 Prestige or status pricing: price high for image appeal
 Price high due to real quality differences or true rarity