BUS3601 Exam 2A Name 1. A marketing manager of a supermarket wishes to determine
ID: 2510512 • Letter: B
Question
BUS3601 Exam 2A Name 1. A marketing manager of a supermarket wishes to determine the best price for canned salmon What information does the manager need to make the pricing decision? a. Price elasticity of demand for the product b. Cost of the product c. Maximum amount of product available from the wholesaler d. All of the above e. None of the above 2. Apple is releasing a new product and decides to use a should initial pricing compare to the competition? market skimming price stratesy. How a. Higher than competition b. Lower than competition c. Same as competition d. Competitors' pricing doesn't matter e. Not enough information given to make a decision After Apple's new product has been on the market for three months, they decide to switch to a market penetration pricing strategy. How should the price compare to competition? 3. a. Higher than competition b. Lower than competition c. Same as competition d. Competitors' pricing doesn't matter e. Not enough information given to make a decision A department store offers frequent sales and discounts from its everyday pricing. This is an example of 4. a. Everyday low pricing b. High/low pricing c. Best value pricing d. Value added pricing e. Option pricing S. A company producing women's dresses pays for rent, utilities, and security at its production facility. These are examples of what type of costs? a. Variable costs b. Fixed costs c. incidental costs Alof the above d. e None of the aboveExplanation / Answer
ANSWER:-
1). (D). All of the above (All the three factors are to be considered while making pricing decision of a new product.
2). (B). Lower than competition ( If you are new in the market, you have to keep your product's price lower than the price of competitor to get your product known in the market.
3). (B). Lower than competition ( to grab the customers, it is necessary to keep our price lower than the competition)
4). (B). High/Low pricing (in this pricing system, stores charges higher rates initially and later sells at a discount to the customers or sometimes through clearance sales also.)
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