Marketing Pricing Strategies Quiz
10 Questions
0 Views
3.4 Stars

Marketing Pricing Strategies Quiz

Created by
@SlickLyric

Questions and Answers

What pricing method involves setting prices based on the prices of competing products?

Competition-based pricing

Which of the following is a potential advantage of competition-based pricing?

It helps the company avoid pricing disadvantages compared to competitors

What is the central element of demand-based pricing?

Consumer demand based on perceived value

Which of the following is a type of demand-based pricing strategy?

<p>Price skimming</p> Signup and view all the answers

What is price discrimination?

<p>Charging different prices for the same product to different customers</p> Signup and view all the answers

Which of the following is NOT a type of demand-based pricing strategy mentioned in the text?

<p>Value-based pricing</p> Signup and view all the answers

What is psychological pricing?

<p>A marketing practice based on the theory that certain prices have a psychological impact</p> Signup and view all the answers

Which of the following is a potential disadvantage of competition-based pricing?

<p>It may result in pricing a higher quality product lower than competitors</p> Signup and view all the answers

Which pricing strategy involves setting a high initial price and then lowering it over time?

<p>Price skimming</p> Signup and view all the answers

What is a potential advantage of using psychological pricing tactics?

<p>It can influence consumer behavior and increase perceived value</p> Signup and view all the answers

More Quizzes Like This

Pricing Strategies in Marketing
12 questions
Pricing Strategies in Marketing
40 questions
Use Quizgecko on...
Browser
Browser