Tag: pricing

Questions Related to pricing

Price discrimination is defined as ___________.

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  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?

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  1. monopoly

  2. perfect competition

  3. discriminating monopoly

  4. oligopoly

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Correct Option: A

Equilibrium price is also called:

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  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?

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  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.

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  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

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  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

In India, which pricing practice is not permissible?

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  1. Penetrating pricing

  2. Skimming pricing

  3. Predatory pricing

  4. None of the above

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Correct Option: C
Explanation:

In India, predatory pricing practice is not permissible.

Predatory pricing is the pricing of goods and services at such a low level that other firms cannot compete and are forced to leave the market.