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22 questions
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- Q1Which one of the following is not something that price assists with from a marketing perspective?PositioningCompetitive advantageDifferentiationMonetary value30s
- Q2A time of extreme competition in which organisations keep lowering their prices to attract sales is known as a ...price warprice reactionprice objectiveprice factor30s
- Q3Price means different things to different stakeholders, for buyers the price is mainly perceived as the ... of the product.revenuecostvalueprofit30s
- Q4The benefit to the consumer and the sacrifice they make to own the product is known as the ... of the product.priceutilitychallengevalue30s
- Q5Which one of the following is a reason why price is important to marketing management?Price influences suppliersPrice is tacticalPrice is flexiblePrice is important in production30s
- Q6In pricing, what does the term yield value mean to customers?It is the amount the customer must pay to obtain the product.It is the highest amount the customer is willing to pay to obtain the product.It is the customer's total spending that a business captures in the products and services it offers.It is the extra need satisfaction customer get when they buy a product.30s
- Q7Which one of the following refers to a vendor that has no control over the price of the product as it is set by the manufacturer or business?retailerprice makerwholesalerprice taker30s
- Q8Which of the following is complementary products to an Apple iPhone cell phone?Screen protector and a caseApple iPad tabletSamsung cell phoneKeyboard and mouse30s
- Q9What is the fourth step in setting the right price for your product?Establish pricing objectivesFine-tune the base price with pricing tacticsChoose a price strategy to determine a base priceEstimate demand, costs and profits30s
- Q10What is the first step in setting the right price for your product?Establish pricing objectivesChoose a price strategy to determine a base priceFine-tune the base price with pricing tacticsEstimate demand, costs and profits30s
- Q11What is the second step in setting the right price for your product?Choose a price strategy to determine a base priceFine-tune the base price with pricing tacticsEstimate demand, costs and profitsEstablish pricing objectives30s
- Q12What is the third step in setting the right price for your product?Choose a price strategy to determine a base priceEstimate demand, costs and profitsFine-tune the base price with pricing tacticsEstablish pricing objectives30s
- Q13What is internal factors that affect pricing?CompetitionMarket demandEconomyMarketing goals30s
- Q14What is an external factor that affect pricing?Business imageCompetitionProduct life cycleCosts30s
- Q15Which pricing strategy is used when the amount of sales in units of rands for total income is the same as total costs at a set price?mark-uptargetcost-plusbreak-even30s