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Questions and Answers

What is the price difference between 'Cappuccino for the concerned' and 'Cappuccino for the unconcerned'?

£0.10 (correct)

£0.05

£1.00

£2.00

What is the primary concern of Costa's pricing strategy?

Maximizing customer satisfaction

Finding the optimal tradeoff between price and customer base (correct)

Maintaining a consistent price across all customers

Minimizing production costs

What is the advantage of charging different prices to different customers?

Increased customer satisfaction

Reduced production costs

Higher profit margins (correct)

Simplified pricing strategy

What would be the consequence of Costa charging the same price to all customers?

A need to guess the optimal tradeoff between price and customer base Signup and view all the answers

What is the goal of a well-run business, according to the passage?

To charge each customer the maximum price they'd be willing to pay Signup and view all the answers

What is the primary concern of Costa's pricing strategy, according to the passage?

Finding the optimal tradeoff between price and customer base Signup and view all the answers

What is the problem with Costa's original pricing strategy?

It requires guessing the optimal tradeoff between price and customer base Signup and view all the answers

What is the intended outcome of Costa's pricing strategy?

To enjoy the best of both worlds Signup and view all the answers

What is the alternative to Costa's original pricing strategy?

Charging different prices to different customers Signup and view all the answers

What is the reason Costa can charge different prices to different customers?

They have ways to identify customers for a price increase Signup and view all the answers