Understand pricing strategies and how to price new offerings.
Quiz by shahbas banu
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14 questions
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- Q1What is a common pricing strategy where products are priced lower than normal to attract customers and gain market share quickly?Skimming pricingPsychological pricingPenetration pricingPremium pricing30s
- Q2What pricing strategy involves setting a high initial price to target the early adopters and then gradually lowering the price over time?Value-based pricingPrice bundlingSkimming pricingPenetration pricing30s
- Q3Which pricing strategy focuses on setting the price based on the perceived value of the product or service to the customer?Cost-plus pricingCompetitive pricingValue-based pricingLoss leader pricing30s
- Q4Which pricing strategy involves setting prices at specific levels to create a perception of better value and attract more customers?Loss leader pricingPredatory pricingPsychological pricingElasticity pricing30s
- Q5What pricing strategy involves bundling several products together and selling them for a lower overall price than if purchased individually?Bundle pricingElasticity pricingFreemium pricingValue-based pricing30s
- Q6What pricing strategy involves offering a product at a very low price, sometimes even below cost, to attract customers and stimulate other profitable sales?Psychological pricingSkimming pricingLoss leader pricingDynamic pricing30s
- Q7What pricing strategy involves adjusting prices in real-time based on demand, competitor pricing, and other market factors?Cost-plus pricingPremium pricingValue-based pricingDynamic pricing30s
- Q8Which pricing strategy involves adding a markup to the cost of a product to determine the selling price?Loss leader pricingPredatory pricingCost-plus pricingSkimming pricing30s
- Q9What is a common pricing strategy where a business initially sets a low price for a product to attract customers, with the goal of raising it later?Psychological pricingPenetration pricingCost-plus pricingSkimming pricing30s
- Q10What pricing strategy involves setting a high initial price to target early adopters and then gradually lowering the price over time?Value-based pricingCompetitive pricingSkimming pricingPenetration pricing30s
- Q11What pricing strategy involves setting prices based on how customers perceive the value of a product or service?Value-based pricingPredatory pricingCost-plus pricingSkimming pricing30s
- Q12Which pricing strategy involves setting prices based on the prices of competitors in the market?Price discriminationCompetitive pricingOdd-even pricingPredatory pricing30s
- Q13What pricing strategy involves setting different prices for the same product based on customer segments, such as student discounts or senior citizen discounts?Psychological pricingPrice discriminationPredatory pricingGeographical pricing30s
- Q14What pricing strategy involves setting prices at different levels based on the location or region where the product is being sold?Price skimmingDynamic pricingGeographical pricingCost-plus pricing30s