Factors affecting Pricing

What is the main focus of top executives in pricing decisions?

• Individual Product Strategies

• Manufacturing cost

• Overall Price strategy

• Extrrnal Factors

What does TC stand for in the context of cost?

• Total Cost

• Total Consumers

• Total Competition

• Total Control

Which external factor can significantly affect the price of a product?

• Organizational Factors

• Government Policies

• Marketing Mix

• Cost of Production

What is the purpose of product differentiation in pricing?

• To lower the price

• To attract more customers

• To decrease competition

• To simplify marketing mix

How do changes in the marketing mix elements affect price?

• They have no effect

• Immediate effect on other elements

• Delayed effect on demand

• Decrease in production cost

What is an internal factor that influences pricing decisions?

• Competition

• Economic conditions

• Cost

• Government policies

Which external factor involves the number of consumers and businesses buying a company's products?

• Competition

• Demand

• Suppliers

• Government

What is the role of government in price controls?

• Increase prices

• Decrease demand

• Arrest inflationary trends

• Support Competition

In cost plus pricing, what is added to the cost of production to determine the price?

• Percentage profit

• Manufacturing Cost

• External factors

• Demand

What is the sum of value that the customer exchanges for benefit in pricing?

• Manufacturing cost

• Total cost

• Price

• Matketing mix