The Marketing Mix: Price (Leaving Cert Business): Quizzes
📚Quizzes
Practise the questions
10 questions from this quiz
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Practise the questions
10 questions from this quiz
What two key business aspects does price directly impact?
What two key business aspects does price directly impact?
Viability and profitability
What does premium pricing require to justify higher costs?
What does premium pricing require to justify higher costs?
Exceptional product quality
What is the main purpose of price skimming at product launch?
What is the main purpose of price skimming at product launch?
Maximise profits & recover R&D costs
What does penetration pricing involve?
What does penetration pricing involve?
Setting prices below competitors initially
What is price discrimination?
What is price discrimination?
Different prices for different segments
What serious concern can predatory pricing raise?
What serious concern can predatory pricing raise?
Legal and ethical issues
Why does €399 appear more attractive than €409 in psychological pricing?
Why does €399 appear more attractive than €409 in psychological pricing?
Perceived as €300 range not €400 range
If costs are €28 and mark-up is 60%, what is the final selling price?
If costs are €28 and mark-up is 60%, what is the final selling price?
€44.80
What is a key benefit of bundle pricing?
What is a key benefit of bundle pricing?
Moves slow-selling inventory
Which factor must prices cover according to business cost considerations?
Which factor must prices cover according to business cost considerations?
Production, marketing & distribution