Chapter 11 Pricing

Which of the following is NOT one of the 4Ps?

• Product
• Packaging
• Place
• Price

Which key word best describes the phrase "a physical thing"

• Good
• Item
• Service
• Thing

Which key word best describes the phrase "intangible products"

• Good
• Item
• Service
• Thing

What is the first stage in the product life cycle?

• Decline
• Maturity
• Growth
• Introduction

What is meant by 'place' in business?

• Where a business is
• Where a business sends products
• Where a business owner lives
• Where customers live

Which pricing strategy starts off high and gets lower?

• Penetration
• Skimming
• Competitive
• Cost-Plus

Which pricing strategy strategy is all about the mind and brain?

• Skimming
• Penetration
• Psychological
• Loss Leader 

What is the final stage in the product life cycle?

• Introduction
• Maturity
• Decline
• Growth

Fast food restaurants such as McDonalds use this pricing strategy for selling combos of burgers, fries and a beverage at a lower price than the total price of the items sold individually. This is an example of:

• Discounts

• Stability pricing

• Price discrimination

• Product-bundle pricing

Organisation sets a low price to increase sales and market share. Once market share has been captured the firm may increase the price.

• Penetration Pricing

• 3 C's of Marketing

• Skimming Price

• Price