When is price considered a lead variable in the marketing mix?
The Role of Price in Marketing

Quiz
•
Business
•
University
•
Hard
Ces David
FREE Resource
10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
When it is not strategically prominent
When it is the primary variable in attracting and keeping customers
When it is used to attract and keep customers
When it is used as a background variable
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following brands is associated with price as a background variable?
Apple
Harley-Davidson
7-Eleven
Amazon
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How can price be used as a differentiating factor for a product?
By targeting a particular segment of customers
By offering value for money
By offering discounts
By setting a reasonable price
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In which stage of the product life cycle is price unlikely to be a lead variable?
Introduction stage
Growth stage
Maturity stage
Decline stage
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the primary motive of all firms when determining the price of a product?
To regulate the demand for the product
To build the product image
To counter the competition
To earn profit
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How does price help in countering competition?
By increasing the sales volume
By building the product image
By preventing new competitors from entering the market
By offering discounts
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does price often build for a product in the eyes of consumers?
An image of luxury
An image of affordability
An image of low quality
An image of high value and benefit
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