Pricing Strategy

Pricing Strategy

9th - 12th Grade

15 Qs

quiz-placeholder

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Pricing Strategy

Pricing Strategy

Assessment

Quiz

Other

9th - 12th Grade

Medium

Created by

Demetrius Dugar

Used 47+ times

FREE Resource

15 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the definition of price?

The amount of money given by a buyer to a seller in exchange for goods or services

The cost of raw materials used in production

The profit made by a business

The value of a product or service

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What are the components of the marketing mix?

Product, price, place, promotion

Quality, quantity, cost, competition

Supply, demand, profit, loss

Advertising, sales, distribution, branding

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How can a business determine the most effective pricing strategy?

By identifying the company's pricing position, pricing segment, pricing capability, and competitive pricing reaction strategy

By conducting market research and surveys

By setting the price based on the cost of production

By offering discounts and promotions

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Why is it important for a business to have a detailed knowledge of pricing techniques?

To avoid losses and ensure profitability

To attract more customers

To compete with other businesses

To increase market share

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How can a business determine the price for a product with multiple competitors?

The price should be in line with competitors' prices

The price should be higher than competitors' prices

The price should be lower than competitors' prices

The price should be based on the cost of production

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the purpose of offering discounts and promotions?

To attract customers and increase sales

To reduce costs and increase profit

To match competitors' prices

To create a sense of urgency

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Why do online stores often list prices as 99 or 999 instead of rounding to the nearest whole number?

To create the perception of a lower price

To confuse customers

To increase profit margin

To match competitors' prices

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