10 Questions
Which pricing method bases the price of a product on the production cost?
Cost-based pricing
What function does price serve when it is used as a symbol for a product's quality?
Product-Positioning function
How does a high price influence target adopters' perception of a product's quality?
It suggests high quality or prestige
When target adopters use price as a standard for judging quality, what does a low price suggest to them?
It indicates poor quality
In social marketing, what might a free product lead target adopters to be in terms of their interest?
Casual in their interest
Which of the following is NOT a method of price setting mentioned in the text?
De-marketing
What is the primary focus of competitive based pricing?
Competitors' prices
Which pricing objective aims at covering the expenses of producing and marketing a product?
Recovering Costs
What does value based pricing take into consideration when setting prices?
Customer perceptions of value
Which factor affects the ability of target adopters to acquire a social product?
Accessibility function
Learn about different methods of price setting such as cost-based pricing and competitive-based pricing. Understand how prices can be determined based on profit margins, return on investment, and competition in the market.
Make Your Own Quizzes and Flashcards
Convert your notes into interactive study material.
Get started for free
