Tag: marketing mix - 4 p's

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Multiple choice commercial applications marketing mix - 4 p's meaning and objectives of pricing pricing strategies pricing

If actual selling price is 500,actual result is 500,actual result is 250 and actual units sold are 350, then selling price variance will be _____________.

  1. $87, 500

  2. $97, 500

  3. $67, 500

  4. $57, 500
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Selling Price Variance = (Actual Price - Standard Price) * Actual Quantity. Given the garbled input, if we assume the standard price was 250 and actual price was 500, the variance is (500 - 250) * 350 = 250 * 350 = 87,500.

Multiple choice commercial applications marketing mix - 4 p's meaning and objectives of pricing pricing strategies pricing

Pricing policies may be classified into.

  1. Target rate of return

  2. Stability in prices

  3. Maximising profit

  4. Minimising cost
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Pricing policies are often categorized by their objectives, such as maximizing profit, maintaining stability, or minimizing costs. Minimizing cost is a valid strategic objective for pricing policy.

Multiple choice commercial applications marketing mix - 4 p's meaning and objectives of pricing pricing strategies pricing

Which of the following is not a geographic pricing?

  1. FOB pricing

  2. Zone pricing

  3. Basic point pricing

  4. Dual pricing
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Geographic pricing involves adjusting prices based on the buyer's location (e.g., FOB, Zone, Base point). Dual pricing refers to charging different prices for the same product in different markets or to different customer segments, which is not inherently geographic.

Multiple choice commercial applications marketing mix - 4 p's meaning and objectives of pricing pricing strategies pricing

Price ling is closely related to.

  1. Psychological prices

  2. Customary prices

  3. Prestige prices

  4. Both (A) and (B)
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Price lining is the practice of selling merchandise at a limited number of predetermined price points. This is closely related to psychological pricing (making prices look more attractive) and customary pricing (prices that consumers expect to pay).

Multiple choice commercial applications marketing mix - 4 p's meaning and objectives of pricing pricing strategies pricing

Administered pricing applies to the practice of pricing on the basis of.

  1. Cost

  2. Competitive pressure

  3. The law of supply and demand

  4. The policy decisions of the sellers
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Administered pricing occurs when prices are set by the seller or a regulatory authority rather than being determined solely by the forces of supply and demand in a competitive market.

Multiple choice commercial applications marketing mix - 4 p's meaning and objectives of pricing pricing strategies pricing

Penetration pricing is opposite to the.

  1. Dual pricing method

  2. Administrated pricing method

  3. Expected pricing method

  4. Skimming pricing method
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Penetration pricing involves setting a low initial price to capture market share, which is the opposite of skimming pricing, where a high initial price is set to maximize revenue from early adopters.