PRE QUIZ PRICING

What is one of the element of the marketing mix that produces revenue?

• PRODUCT

• PROMOTION

• PLACE

• PRICE

Which of the following are the major pricing strategies?

• Customer Value-Based Pricing

• 
  

  Competition-Based Pricing

• Dynamic Pricing

• Cost-Based Pricing

Which pricing strategy uses the

buyers’ perceptions of value rather than seller’s cost?

• 
  Customer Value-Based Pricing

• Competition-Based Pricing

• Cost-Based Pricing

• Dynamic Pricing

Which pricing strategy involves setting prices based on the costs for producing, distributing, and selling the product plus a fair rate of return for its effort and risk?

• Dynamic Pricing

• 
  Customer Value-Based Pricing

• Competition-Based Pricing

• Cost-Based Pricing

________ uses buyers' perceptions of what a product is worth, not the seller's cost, as the key to pricing.

• 
  Value-based pricing

• Target return pricing

• Variable costs

• Price elasticity

• 
  Product image

When there is price competition, many companies adopt ________ rather than cutting prices to match competitors.

• 
  pricing power

• value-added pricing strategies

• fixed costs

• price elasticity