Tag: commercial applications

Questions Related to commercial applications

Which of the following is not a pricing objective?

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

  1. Surviving in competitive market

  2. Attaining product quality

  3. Obtaining market share leadership

  4. Informing the masses about the product

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Correct Option: D

Price discrimination is defined as ___________.

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

  1. The practice of charging different prices to different consumers for the goods or services by slightly altering the packaging or features for the different groups

  2. Disregarding the profit motive by favoring one group of buyers over another by charging that group a lower price

  3. The practice of charging different prices to different consumers for the same goods or services

  4. The practice of selling a goods or services for the same to different groups of consumers group but slightly altering, quantity or features of the goods or services for each group

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Correct Option: C
Explanation:

Price discrimination refers to the charging of different price by the monopolist for the same product.  The differences maybe on the basis of brand wrapper etc. This policy of the monopolist is called price discrimination.

"Price discrimination refers strictly to the practice by a seller of charging different prices from different buyers for the same good" -J.S. Bian

Defraction is a situation where:

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

  1. prices are falling

  2. value of money is rising

  3. output is falling

  4. all of the above

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Correct Option: D

Price is the value of a good in terms of:

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

  1. quality

  2. money

  3. substitutes value

  4. none of the above

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Correct Option: B

The firm is a price-maker in which market structure?

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

  1. monopoly

  2. perfect competition

  3. discriminating monopoly

  4. oligopoly

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Correct Option: A

Equilibrium price is also called:

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

  1. balanced price

  2. market price

  3. stable price

  4. all of the above

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Correct Option: B

What is that market called when the good sells at the same price in all parts of the market?

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

  1. best market

  2. perfect market

  3. profit maximizing market

  4. rational maximizing

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Correct Option: B

_________ evaluates how easy it is for buyers to drive prices down.

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

  1. Buyer Power

  2. Supplier Power

  3. Customer Power

  4. Industry Power

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Correct Option: A

Dual system of pricing exist in

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

  1. Free market economy

  2. Socialist economy

  3. Mixed economy

  4. None of the above

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Correct Option: C

In a capitalist economy, allocation of resources is done by

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

  1. Producers

  2. Government

  3. Planners

  4. Price mechanism

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Correct Option: D