What is the tendency of consumers to interpret information in a way that supports what they already believe called?
Correct answer C. Selective distortion
Topic / 40 questions
Pricing Strategy MCQs
Page 2 of Pricing Strategy multiple-choice questions with answers. Tap an option to check yourself.
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- Developing Marketing Strategies and Plans 137
- Analyzing Consumer Markets 124
- Creating Brand Equity 98
- Products, Services and Brands 95
- Consumer Markets and Buyer Behavior 93
- New Product Development 89
- Customer Driven Marketing Strategy 86
- Product Strategy Setting 80
- Analyzing Business Markets 69
- Conducting Marketing Research 69
- Collecting Information and Forecasting Demand 65
- Integrated Marketing Channels 55
- Identifying Market Segments and Targets 47
- Pricing Capturing Customer Value 43
- Company and Marketing Strategy 40
- Introduction to Marketing 40
- Pricing Strategy 40
- Personal Selling and Sales Promotion 37
- Analyzing Marketing Environment 34
- Marketing Communications Customer Value 31
- Designing and Managing Services 29
- Marketing Channels 28
- Retailing and Wholesaling Strategy 28
- Creating Long-term Loyalty Relationships 27
- Global Marketplace 25
- Competitive Dynamics 25
- Business Markets and Buyer Behavior 24
- Managing Marketing Information Customer Insights 23
- Direct and Online Marketing 22
- Sustainable Marketing Social Responsibility and Ethics 20
- Competitive Advantage 17
Which of the following are social factors that affect consumer behaviour?
Correct answer D. All of the above
Which description best fits the ‘early majority’ adopter group?
Correct answer D. Deliberate
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What type of salespeople travel to call on customers in the field?
Correct answer C. Outside sales force
Which consumer promotion offers goods free or at low cost as an incentive to buy another product?
Correct answer A. Premium
What is the degree to which an innovation can be tried on a limited basis called?
Correct answer A. Divisibility
In social class classifications, which class includes business professionals who have no unusual wealth?
Correct answer A. Upper middles
Which psychological factors influence a consumer’s buying behaviour?
Correct answer D. All of the above
In a SWOT analysis, positive internal capabilities and situational factors are counted as the company’s what?
Correct answer D. Strengths
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In Maslow’s hierarchy of needs, how is the need for security and protection classified?
Correct answer D. Safety needs
Within the promotion mix, what is the tool called in which the sales force makes personal presentations to build relationships and make sales?
Correct answer A. Personal selling
Information that consumers obtain by handling, examining and using a product comes from what kind of source?
Correct answer B. Experiential sources
After ideas have been generated from internal and external sources, what is the next step in new product development?
Correct answer B. Idea screening
What is the change called when a potential customer becomes a regular user of a product?
Correct answer B. Adoption
Which of the following is a pricing issue that arises across channel levels?
Correct answer B. Deceptive pricing
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What is the specific mix of human traits that can be attributed to a brand called?
Correct answer A. Brand personality
What is a sales force structure called when salespeople specialise in selling to particular industries or customer types?
Correct answer A. Customer sales force structure
What is the degree to which an innovation appears superior to existing products, making those products seem less attractive, called?
Correct answer D. Relative advantage
What is the pricing strategy called when a firm charges a fixed fee plus a variable usage rate?
Correct answer B. Two-part pricing
What is the tendency of consumers to screen out most of the advertising information they are exposed to called?
Correct answer A. Selective attention