1. A common pricing mistake entrepreneurs make is lowering prices because they fail to recognize the:

2. Your local grocery store uses a pricing technique known as_______________ on a weekly basis, in which they mark down the price of several popular items, sometimes well below their normal price, in an effort to increase customer traffic and to boost sales of other items.

3. A __________ is a company's "face" in the marketplace and communicates a key message to the target market.

4. It has been reported that the use of credit cards increases the ____________ of customer spending.

5. _________________ tells what portion of the total revenue remains after covering variable costs to contribute toward meeting fixed expenses and earning a profit.

6. Companies with strong reputations for quality follow certain guidelines, such as:

7. One of the worst-and most common-mistakes entrepreneurs make is:

8. Optional product pricing involves selling the base product at:

9. Once a company has invested time and money developing a unique new product, in order to recoup some of the high R&D costs, they will likely use a:

10. Which of the following is/are not true regarding pricing for service firms?