
Pricing Concept & Strategy
Quiz
•
Business
•
Professional Development
•
Practice Problem
•
Hard
shafeeqa salman
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8 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is a key feature of cost-plus pricing?
a) Pricing based on customer perceived value
b) Adding a fixed profit margin to the cost of production
c) Setting prices based on competitors' prices
d) Dynamic pricing based on demand fluctuations
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Value-based pricing primarily focuses on:
a) Covering costs and ensuring profit margins
b) Setting prices based on competitors’ prices
c) The perceived value of the product to the customer
d) Minimizing production costs
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which factor most influences competition-based pricing?
Customer willingness to pay
Economic conditions in the region
Costs incurred in production
Prices set by competitors
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How do economic factors influence pricing strategies in different regions?
They affect customers’ purchasing power and willingness to pay
They only influence production costs, not pricing
They have no impact on pricing decisions
They determine the legal constraints on pricing
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Revenue management primarily aims to:
Reduce customer demand to match supply
Minimize inventory
Maximize revenue by selling the right product to the right customer at the right time and price
Maximize production efficiency
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is a common promotional tool used in revenue management?
Discounting and special offers
Eliminating demand during peak periods
Cost reduction
Increasing fixed costs
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A key principle of revenue management is:
Fixed pricing to maintain brand consistency
Uniform pricing regardless of demand fluctuations
Ignoring customer segmentation
Adjusting prices based on real-time demand and capacity constraints
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