Ch 4 The Marketing Mix: PRICE

Quiz
•
Other
•
9th Grade
•
Hard

Wendy Chew
Used 26+ times
FREE Resource
15 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Business need to consider 3 factors before deciding the price of their products.
Which of the following is NOT one of the 3 factors of pricing? TB Pg78
Customers' willingness to pay
Competitors' prices
Costs of production
Customers' prices
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Different businesses have different names for the price of their products:
Eg. Hotel rooms: Room rates
What about for Airlines on their plane tickets?
Travel price
Airfares
Flight rates
4.
MULTIPLE SELECT QUESTION
30 sec • 1 pt
Business need to consider the COSTS of making the product before deciding on the price to sell to customers.
Which of the following are COSTS of the product?
materials costs
staff salaries
rental costs
promotion expenses
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The cost of producing a wallet is $10. Customers are willing to pay $20 for this wallet.
The business should price the wallet at ________ .
$8
$10
$15
$20
6.
FILL IN THE BLANK QUESTION
30 sec • 1 pt
Product-line pricing involves setting different prices for different v_______ of the same product.
E.g. in airline seats, there are business class, premium class and economy class seats.
7.
FILL IN THE BLANK QUESTION
30 sec • 1 pt
Product-bundle pricing involves pricing a few r______ products as a bundle and offering it at a reduced price.
E.g.a restaurant offers a set meals that come with a salad or soup, a main course, a dessert and a drink.
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