Pricing Strategies Quiz
15 Questions
3 Views

Choose a study mode

Play Quiz
Study Flashcards
Spaced Repetition
Chat to lesson

Podcast

Play an AI-generated podcast conversation about this lesson

Questions and Answers

______- this refers to setting low prices to increase the price once the desired market share is achieved (e.g., mobile app-based transportation service offering reduced booking fee of ₱15 as its introductory price).

Penetration pricing

______- this refers to two or more products or services in one reduced price (e.g., 3-in-1 coffee for ₱8.00, manicure and pedicure for only ₱150).

Bundling

______- this is the opposite of penetration pricing where prices are initially high and then they are lowered to offer the product or service to a wider market (e.g., a real estate company offering top-tier projects is now offering low cost housing of same quality to serve the middle market segment).

Skimming

______- this refers to benchmarking prices with the competitors (e.g., milk tea prices are competitively priced)

<p>Competitive pricing</p> Signup and view all the answers

______- this refers to pricing different products or services within a parallel product array using varying price points (e.g., LED TV is more expensive than the LCD.

<p>Product line pricing</p> Signup and view all the answers

Which pricing strategy initially sets high prices and then lowers them to reach a wider market?

<p>Skimming</p> Signup and view all the answers

What pricing strategy involves offering two or more products or services at a reduced price?

<p>Bundling</p> Signup and view all the answers

What pricing strategy involves setting low prices to increase market share, with the intention of raising prices later?

<p>Penetration pricing</p> Signup and view all the answers

What pricing strategy involves pricing different products within a product array using varying price points?

<p>Product line pricing</p> Signup and view all the answers

Which pricing strategy benchmarks prices with competitors?

<p>Competitive pricing</p> Signup and view all the answers

1

<p>Bundling- this refers to two or more products or services in one reduced price (e.g., 3-in-1 coffee for ₱8.00, manicure and pedicure for only ₱150)</p> Signup and view all the answers

2

<p>Penetration pricing- this refers to setting low prices to increase the price once the desired market share is achieved (e.g., mobile app-based transportation service offering reduced booking fee of ₱15 as its introductory price)</p> Signup and view all the answers

3

<p>Skimming- this is the opposite of penetration pricing where prices are initially high and then they are lowered to offer the product or service to a wider market (e.g., a real estate company offering top-tier projects is now offering low cost housing of same quality to serve the middle market segment)</p> Signup and view all the answers

4

<p>Competitive pricing- this refers to benchmarking prices with the competitors (e.g., milk tea prices are competitively priced)</p> Signup and view all the answers

5

<p>Product line pricing- this refers to pricing different products or services within a parallel product array using varying price points (e.g., LED TV is more expensive than the LCD.</p> Signup and view all the answers

Study Notes

Pricing Strategies

  • Penetration Pricing: setting low prices to increase market share, with the intention of raising prices later (e.g., mobile app-based transportation service offering reduced booking fee of ₱15 as its introductory price)
  • Bundle Pricing: two or more products or services in one reduced price (e.g., 3-in-1 coffee for ₱8.00, manicure and pedicure for only ₱150)
  • Skim Pricing: initially high prices are set, and then they are lowered to offer the product or service to a wider market (e.g., a real estate company offering top-tier projects is now offering low-cost housing of same quality to serve the middle market segment)
  • Competitive Pricing: benchmarking prices with competitors (e.g., milk tea prices are competitively priced)
  • Product Line Pricing: pricing different products or services within a parallel product array using varying price points (e.g., LED TV is more expensive than the LCD)

Studying That Suits You

Use AI to generate personalized quizzes and flashcards to suit your learning preferences.

Quiz Team

Description

Test your knowledge of pricing strategies with this quiz! Learn about bundling, penetration pricing, skimming, and more. Challenge yourself with scenarios and examples to see how well you understand these key pricing concepts.

More Like This

Pricing Strategies Quiz
3 questions
Pricing Strategies Quiz
3 questions
Pricing Strategies Quiz
26 questions
Pricing Strategies Quiz
8 questions
Use Quizgecko on...
Browser
Browser