ENTREP FINALS (QUIZ 1)

What does value-based pricing focus on?

• The cost of materials used

• The value customers place on a product or service

• Competitors' pricing

• Employee labor costs

Product Line Pricing means:

• Setting one price for all products

• Giving free products to promote sales

• Offering different prices for products within the same line

• Using discounts to attract customers

Which example best shows Product Line Pricing in hotels?

• Charging different rates for Standard, Deluxe, and Suite rooms

• Charging one fixed rate for all rooms

• Offering a 10% discount to all guests

• Selling meals with drinks included

When a hotel charges ₱2,000 for a basic room but adds fees for breakfast or spa access, it is applying:

• Geographical Pricing

• Product-Bundle Pricing

• Captive-Product Pricing

• Optional-Product Pricing

Offering a hotel “staycation package” that includes room, breakfast, and spa access for one price shows:

• Product-Bundle Pricing

• Psychological Pricing

• Product Line Pricing

• By-Product Pricing

A hotel group adjusts prices in major cities due to higher demand. What strategy is this?

• Value-Based Pricing

• Discount Pricing

• Geographical Pricing

• Product Line Pricing

If a manager wants to attract more customers during low-demand months, which pricing strategy should they use?

• Captive-Product Pricing

• Psychological Pricing

• Discount Pricing

• Geographical Pricing

A hotel decides to sell basic rooms at ₱2,000 but earns most of its profit from spa and dining add-ons. Which strategy is the hotel using to maximize profit?

• Captive-Product Pricing

• Optional-Product Pricing

• Product-Bundle Pricing

• Discount Pricing

A restaurant starts selling leftover bread crumbs to a bakery to reduce waste and earn profit. What advantage does this bring to the business?

• More labor cost

• Lower brand value

• Higher menu prices for main dishes

• Additional income and waste reduction through By-Product Pricing

A spa hotel offers ₱1,999 instead of ₱2,000 for massage services. Which customer perception is this aiming to influence?

• The service is part of a package

• The price is easier to calculate

• The service feels more affordable

• The service appears lower quality