Podcast
Questions and Answers
What is the difference between price discrimination and price skimming?
What is the difference between price discrimination and price skimming?
- Price discrimination occurs when a firm charges the same price to all groups of consumers for an identical good or service, while price skimming involves charging a relatively low price for a short time for a new, innovative, or much-improved product
- Price discrimination occurs when a firm charges a relatively low price for a short time for a new, innovative, or much-improved product, while price skimming involves charging different prices to different groups of consumers for an identical good or service
- Price discrimination occurs when a firm charges a relatively high price for a short time for a new, innovative, or much-improved product, while price skimming involves charging different prices to different groups of consumers for an identical good or service
- Price discrimination occurs when a firm charges different prices to different groups of consumers for an identical good or service, while price skimming involves charging a relatively high price for a short time for a new, innovative, or much-improved product (correct)
What is the difference between sales promotion and publicity?
What is the difference between sales promotion and publicity?
- Sales promotion refers to any activity designed to boost the sales of a product or service, while publicity refers to promotional activities designed to promote a business and its products by obtaining media coverage not paid for by the business (correct)
- Sales promotion refers to increased PR activity, while publicity refers to a free-sample campaign
- Sales promotion refers to door-to-door calling and telephone-selling, while publicity refers to arranging demonstrations or exhibitions and setting up competitions with attractive prizes
- Sales promotion refers to promotional activities designed to promote a business and its products by obtaining media coverage not paid for by the business, while publicity refers to any activity designed to boost the sales of a product or service
What is the difference between short-term objectives and long-term objectives?
What is the difference between short-term objectives and long-term objectives?
- Short-term objectives are goals set for a period of one month, while long-term objectives are goals set for a period of one year
- Short-term objectives are goals set for a period of more than one year, while long-term objectives are usually one-year objectives that often coincide with short-term objectives
- Short-term objectives are goals set for a period of one year, while long-term objectives are goals set for a period of five years
- Short-term objectives are usually one-year objectives that often coincide with long-term objectives, while long-term objectives are goals set for a period of more than one year (correct)
What is price discrimination?
What is price discrimination?
What is the purpose of test marketing?
What is the purpose of test marketing?