Make a quiz about pricing strategies for
Quiz by JK Hobson
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10 questions
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- Q1What pricing strategy involves setting a high price initially and then lowering it over time?Competitive pricingPrice skimmingCost-plus pricingDynamic pricing30s
- Q2Which pricing strategy focuses on setting prices based on what competitors charge?Market-entry pricingPsychological pricingPromotional pricingCompetitive pricing30s
- Q3What pricing strategy is used when a company sets a low price to enter a competitive market and attract customers?Market-entry pricingPrice skimmingCost-plus pricingDynamic pricing30s
- Q4Which pricing strategy takes psychological factors into account, such as pricing an item at $9.99 instead of $10?Promotional pricingCost-plus pricingPsychological pricingCompetitive pricing30s
- Q5What pricing strategy involves adjusting prices based on current market demands and conditions?Dynamic pricingPrice skimmingCompetitive pricingPromotional pricing30s
- Q6What pricing strategy involves adding a standard markup to the cost of producing a product?Dynamic pricingPsychological pricingMarket-entry pricingCost-plus pricing30s
- Q7Which pricing strategy involves temporarily reducing prices to attract customers or boost sales?Promotional pricingCost-plus pricingPrice skimmingCompetitive pricing30s
- Q8What pricing strategy involves charging a premium price for a product or service to position it as high-quality?Promotional pricingPrice skimmingDynamic pricingCost-plus pricing30s
- Q9What pricing strategy involves changing the price of a product based on real-time supply and demand?Dynamic pricingCost-plus pricingCompetitive pricingMarket-entry pricing30s
- Q10Which pricing strategy involves pricing a product just below a round number to make it seem cheaper?Cost-plus pricingPrice skimmingPsychological pricingDynamic pricing30s