A. set price based on cost
B. convince buyer about products value
C. design a product
D. determine cost of product
Personal Selling and Sales Promotion
Considering pricing strategies, the price issue that arise when sellers set prices with opinion from competitors is classified as?
A. price fixing
B. predatory pricing
C. price maintenance
D. discriminatory pricing
The process of involving the pool of communities for idea building such as customers, employees and even public at large is classified as?
A. crowdsourcing
B. internal sourcing
C. off sourcing
D. off shoring
In the ‘growth stage of product life cycle’ the cost per customer is?
A. high
B. low
C. average
D. moderate
The product life cycle (PLC) stages includes?
A. product development
B. growth
C. maturity and decline
D. all of above
The kind of pricing strategy in which one product or service is sold for two different prices without any differences in cost is classified as?
A. segmented pricing
B. psychological pricing
C. promotional pricing
D. geographical pricing
The pricing strategy for new product through which revenues are collected from segments willing to pay higher prices is classified as?
A. market skimming pricing
B. market penetration strategy
C. business line pricing
D. product line pricing
The value that customers give up to get the benefits of products or services is classified as?
A. discount
B. value added tax
C. price
D. tax
For developing new products, the company must know its?
A. markets
B. consumers
C. competitors
D. all of above
The last step of cost based pricing is to?
A. set price based on cost
B. convince buyer about products value
C. design a product
D. determine cost of product