The Pricing Policy (Grade 11 NSC Matric Business Studies): Quizzes
📚Quizzes
Practise the questions
10 questions from this quiz
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Practise the questions
10 questions from this quiz
When does pricing policy become important for businesses?
When does pricing policy become important for businesses?
When there is imperfect competition
Why is pricing described as complex despite seeming easy to change?
Why is pricing described as complex despite seeming easy to change?
Must balance costs, affordability & profit
What happens if a business sets its prices too low?
What happens if a business sets its prices too low?
Consumers may think quality is poor
A shop buys an item for R20 and uses 60% mark-up. What is the selling price?
A shop buys an item for R20 and uses 60% mark-up. What is the selling price?
R32,00
What does customer/target-based pricing focus on?
What does customer/target-based pricing focus on?
What customers are willing & able to pay
Why is penetration pricing not suitable as a long-term strategy?
Why is penetration pricing not suitable as a long-term strategy?
It is not a profitable strategy long-term
What is the purpose of psychological pricing like R6,99 instead of R7,00?
What is the purpose of psychological pricing like R6,99 instead of R7,00?
Uses emotional responses to boost sales
How does skimming pricing work when launching innovative products?
How does skimming pricing work when launching innovative products?
Charge higher prices, reduce gradually
How does the target market's income level influence pricing decisions?
How does the target market's income level influence pricing decisions?
Higher-income consumers = higher prices
Which market structure has only one supplier controlling prices and products?
Which market structure has only one supplier controlling prices and products?
Monopoly