Podcast
Questions and Answers
What pricing strategy involves setting a high initial price and gradually lowering it as the market evolves?
What pricing strategy involves setting a high initial price and gradually lowering it as the market evolves?
- Competitive pricing
- Cost-plus pricing
- Price skimming (correct)
- Value-based pricing
Which pricing strategy involves setting a low price initially to enter a competitive market and then gradually raising it?
Which pricing strategy involves setting a low price initially to enter a competitive market and then gradually raising it?
- Value-based pricing
- Competitive pricing
- Penetration pricing (correct)
- Cost-plus pricing
What type of pricing strategy involves applying variable prices instead of fixed prices, often used by companies with high seasonality or last-minute purchases?
What type of pricing strategy involves applying variable prices instead of fixed prices, often used by companies with high seasonality or last-minute purchases?
- Price skimming
- Dynamic pricing (correct)
- Value-based pricing
- Cost-plus pricing
What is the main focus of the 4Ps of the marketing mix?
What is the main focus of the 4Ps of the marketing mix?
What does the 'Price' element in the marketing mix refer to?
What does the 'Price' element in the marketing mix refer to?
Which pricing strategy involves setting a low price to gain market share quickly?
Which pricing strategy involves setting a low price to gain market share quickly?
What are the 4Ps of the Marketing Mix?
What are the 4Ps of the Marketing Mix?
Which pricing strategy focuses on setting prices based on the perceived value to the customer?
Which pricing strategy focuses on setting prices based on the perceived value to the customer?
Which of the following is NOT one of the Extended 7Ps of the Marketing Mix introduced in the late 70s?
Which of the following is NOT one of the Extended 7Ps of the Marketing Mix introduced in the late 70s?
What pricing strategy involves initially setting a low price to gain market share quickly?
What pricing strategy involves initially setting a low price to gain market share quickly?
