SELF TEST 20A: Evaluating Price Sensitivity Among Customers

Test #1:

What is price sensitivity?

Test #2:

What is a Price Gap?

Test #3:

Before Last Look develops in a marketplace, what might we expect to see as prices for similar products from one competitor to the next?

Test #4:

How do we explain price premiums in a market?

Test #5:

What is a Price Shaver?

Test #6:

What is a Price Leader?

Test #7:

What is the difference between a Price Shaver and a Price Leader?

Test #8:

What is a Leader’s Trap?

Test #9:

What is a Price Umbrella?

Test #10:

Explain Last Look.

Test #11:

What is Positive Volatility due to price?

Test #12:

What is Negative Volatility due to price?

Test #13:

What effects does Last Look have on a marketplace?

Test #14:

Where do lower prices originate in Hostile markets, where prices and returns are already low?

Test #15:

Why are there differences from one customer to the next in prices paid in the marketplace when the market is Hostile?

Test #16:

What are Price Gaps from one competitor to another before and after Last Look?

Test #17:

In a Hostile marketplace, who is responsible for the majority of price declines?