WorksheetsObjectives in Pricing
Total questions: 14
Worksheet time: 2mins
The price of each product is designated to be higher than the total cost of producing and selling the product to ensure that the firm incurs profit in every sale transaction
(a)
One element of the marketing mix that produce revenue; the other elements produce costs.
(a)
Setting a price that similar products or service and make adjustments as one of the features for differentiating.
(a)
In this strategy, all competitors respond to supply and demand, in order to set a market price that reduces shortages and surpluses.
Price skimming
Cost-based Pricing
Competitive pricing
Supply and demand pricing
Fast food restaurants such as McDonalds use this pricing strategy for selling combos of burgers, fries and a beverage at a lower price than the total price of the items sold individually. This is an example of:
Price discrimination
Product- bundle pricing
Discounts
Stability pricing
Which pricing strategy uses the
buyers’ perceptions of value rather than seller’s cost?
Value- based pricing
Customer- based Pricing
Competition - based pricing
none of the option
Which of the following must a business accomplish through selling price:
Pay all product costs.
Maintain market share.
Acquire start-up capital.
Company valuation.
Selling price helps customers to allocate their money because price determines
what customers need to purchase.
the value of products to all purchasers.
the quality of all goods and services.
what customers can afford to purchase.
Is the following statement true or false: There is no connection between a firm’s marketing objectives and its pricing objectives.
True, marketing and pricing are independent of each other.
False, marketing objectives are based on pricing objectives.
True, some businesses do not even need marketing objectives.
False, pricing objectives should be used to achieve marketing objectives.
Why is it important for businesses to recover their costs?
So that they can pay lower taxes
So that they can stay in business
So that they can maximize their losses
So that they can avoid government regulation
Discount is ______from the price
added
subtracted
divided
disect
A Music stote bought a CD set a cost of 150, when the store sold the CD set, the mark -up was 40%, find the selling price.
190
205
210
160
