5 Questions
Which element of the marketing mix produces revenue and is the most flexible one?
Price
What is the major factor affecting buyer choice?
Price
What is cost-based pricing?
Setting price based on production costs
What is standard markup pricing?
Adding a standard markup to the cost of the product
What are the external factors that influence pricing decisions?
Competition and macro environment
Test your knowledge on pricing strategies and concepts with this quiz! Explore the key factors that influence pricing decisions and learn about the psychology behind pricing. Get ready to enhance your understanding of the 3rd P in marketing - pricing!
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