Questions On Marketing Price And Strategy Quiz! Trivia
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Price is only about pricing strategies,methods and tactics
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True
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False
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About This Quiz
Dive into the essentials of marketing pricing strategies with this trivia quiz! Explore various pricing methods, understand market-based pricing, and match products to their correct pricing strategies. This quiz is perfect for learners aiming to grasp the fundamentals of effective pricing in marketing.
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- 2.
Going rate pricing is when
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Higher than competitors
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Same as competitors
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Lower than competitors
Correct Answer
A. Same as competitorsExplanation
Going rate pricing refers to setting the price of a product or service at the same level as competitors. This strategy is commonly used when a company wants to maintain market share or avoid price wars. By pricing their product at the same level as competitors, the company ensures that customers perceive their offering as being on par with others in the market. This approach can be beneficial in industries where product differentiation is low, and price becomes a key factor in consumer decision-making.Rate this question:
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- 3.
Market based method customers perceived value is what customers _______ the product at Psychological price barriers is a _____ beyond which customers will not go
Correct Answer
value
priceExplanation
The market-based method focuses on determining the value of a product or service based on customers' perception. In this method, the value of the product is determined by how customers perceive it. On the other hand, psychological price barriers refer to the maximum price that customers are willing to pay for a product. It is the price beyond which customers will not go, indicating a limit to their willingness to pay. Therefore, in this context, the customers' perceived value is what customers value the product at, and psychological price barriers represent the price beyond which customers will not go.Rate this question:
- 4.
what is the selling price? ___________
Correct Answer
£20Explanation
The given answer of £20 is the selling price. This means that the item is being sold for £20.Rate this question:
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Current Version
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Mar 21, 2023Quiz Edited by
ProProfs Editorial Team -
May 16, 2013Quiz Created by
Leeaaronbaker
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