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A marketer who has unit costs of $16 and wants to earn a 20 percent markup on sales would charge a markup price of $20.

Companies prefer customers who are less price sensitive.

Services represent the fastest-growing sector of the global economy and account for two-thirds of global output.

Price is one of the two elements of the marketing mix that produces revenue.

Pricing cues such as sale signs and prices that end in 9 are more influential when consumers are experienced in the category.

A global firm is a firm that operates in more than one country and captures R&D, production, logistical, marketing, and financial advantages not available to purely domestic competitors.

Groups that have an indirect influence on a person’s attitude or behavior can be a part of his or her reference groups.

Commoditization strengthens customer loyalty.

Luxury brands are usually not global because they target a niche market.

Outpatient hospital benefits are provided under