The Marketing Mix (LC 2027) (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 must any price cover to ensure business sustainability?
What must any price cover to ensure business sustainability?
All costs plus a profit margin
How do good economic conditions affect pricing decisions?
How do good economic conditions affect pricing decisions?
Consumers have more disposable income
What is penetration pricing?
What is penetration pricing?
Undercutting competitors to gain market share
What is the main aim of loss leader pricing?
What is the main aim of loss leader pricing?
Attract customers & encourage more purchases
What is predatory pricing designed to do?
What is predatory pricing designed to do?
Drive competitors out of the market
When is price skimming most effective?
When is price skimming most effective?
For new products with strong demand
What does premium pricing create?
What does premium pricing create?
Image of superior quality or exclusivity
How is cost-plus pricing calculated?
How is cost-plus pricing calculated?
Total production cost + profit percentage
Why do businesses use €4.99 instead of €5.00?
Why do businesses use €4.99 instead of €5.00?
Psychological pricing below barriers
What is price discrimination?
What is price discrimination?
Different prices for different customer groups