Pricing

Pricing

Assessment

Interactive Video

Business

University

Hard

Created by

Quizizz Content

FREE Resource

The video discusses various pricing strategies and considerations for businesses. It highlights the importance of understanding customer segments and strategic goals when setting prices. The video explores different pricing methods, such as cost-plus, revenue targets, and competitor pricing, and emphasizes the need for strategic alignment with brand positioning, whether as a luxury good or a low-cost provider. It also touches on the challenges of being a low-cost provider without unique advantages.

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7 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the primary goal when setting a price point within a customer segment?

To exclude as many customers as possible

To capture the greatest amount of value

To ensure all customers pay the same price

To set the lowest possible price

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Why might a luxury brand avoid lowering its prices?

To maintain brand exclusivity

To increase production costs

To attract more customers

To compete with low-cost providers

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a challenge for startups trying to be low-cost providers?

Limited customer base

Excessive marketing costs

Difficulty in protecting new methods

Lack of brand recognition

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which pricing method involves adding a percentage to the cost of making a product?

Direct research

Revenue target

Competitor pricing

Cost-plus

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a common pricing strategy in the retail industry?

Revenue target

Cost-plus

Direct research

Economic approach

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How can a company determine the price customers are willing to pay?

By guessing based on intuition

Through direct research and surveys

By copying competitor prices

By setting the highest possible price

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does a higher price on the shelf typically indicate?

Decreased demand

Lower quality

Increased demand

Higher quality