Podcast
Questions and Answers
Which pricing method bases the price of a product on the production cost?
Which pricing method bases the price of a product on the production cost?
- Cost-based pricing (correct)
- Value based pricing
- Competitive based pricing
- Maximizing Profits
What function does price serve when it is used as a symbol for a product's quality?
What function does price serve when it is used as a symbol for a product's quality?
- Accessibility function
- De-marketing function
- Product-Positioning function (correct)
- Maximizing Profits
How does a high price influence target adopters' perception of a product's quality?
How does a high price influence target adopters' perception of a product's quality?
- It indicates poor quality
- It leads to casual interest
- It suggests high quality or prestige (correct)
- It maximizes the number of target adopters
When target adopters use price as a standard for judging quality, what does a low price suggest to them?
When target adopters use price as a standard for judging quality, what does a low price suggest to them?
In social marketing, what might a free product lead target adopters to be in terms of their interest?
In social marketing, what might a free product lead target adopters to be in terms of their interest?
Which of the following is NOT a method of price setting mentioned in the text?
Which of the following is NOT a method of price setting mentioned in the text?
What is the primary focus of competitive based pricing?
What is the primary focus of competitive based pricing?
Which pricing objective aims at covering the expenses of producing and marketing a product?
Which pricing objective aims at covering the expenses of producing and marketing a product?
What does value based pricing take into consideration when setting prices?
What does value based pricing take into consideration when setting prices?
Which factor affects the ability of target adopters to acquire a social product?
Which factor affects the ability of target adopters to acquire a social product?
