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WorksheetsIGCSE Business Studies: Price (Lesson 3)
Total questions: 8
Worksheet time: 4mins
Price skimming is often used for products with high research and development costs.
True
False
Which of the following products would NOT likely use price skimming?
innovative products
products with a high quality
products with a premium image
products with a value-for-money image
An early adopter is
a customer who gets up early
a customer who likes to purchase a product as soon as it is launched onto the market
a business that produces innovative products
An power plug you use with your devices
Which of the following is NOT a benefit of using price skimming?
It helps to portray a premium image
it helps to get back money spent on research and development
It might not suit customers who make value-for-money decisions
It allows the business to make profits before other businesses enter the market
Promotional pricing is a permanent pricing strategy where a product is sold for a very low price
True
False
Buy 2, pay for 1, is the same as Buy one get one free (BOGOF)
True
False
Promotional pricing is most often used when
introducing a new product to the market
building an image of high quality
marketing innovative products
clearing unwanted stock
Which of the following is NOT a limitation of promotional pricing?
It increases customers' perception of value-for-money
customers might doubt the quality of the product
the price might not cover the costs, in which case a loss will be made
it may lead to a price war
