Pricing And Place

Question 1

The methof of determining the value a producer will get in the exchange of goods anf services.

Answer 1

Pricing

Question 2

Primary objective of earning profits

Answer 2

Pricing method

Question 3

the ovjective once set gives the path to the business in which direction to go

Answer 3

Pricing objective

Question 4

pricing objectives

Answer 4

1. Survival
2. Maximum current Profits
3. Maximum market share
4. Market skimming
5. Product-quality leadership

Question 5

The foremost pricing objective of any firm is to set the price that is optimum and help the product or service to survive in the market

Answer 5

survival

Question 6

Estimating the demand and supply of goods and services in the market. Higher the demand, higher the priced charge

Answer 6

maximizing current profits

Question 7

Charge low price to have an increase sale resulting from the.economies of sale

Answer 7

Market share

Question 8

Charging high price fir the peoduct and services offered by the firms which are innovative, and uses modern technology

Answer 8

market skimming

Question 9

Keep the price in coordance with the quality perceived by the customer.

Answer 9

Product-Quality Leadership

Question 10

Competitive pricing. It focuses on the existing market rate for a company’s product or services

Answer 10

Competition based pricing

Question 11

Focuses solely on the cost of producing your product or service. Also known as mark up pricing

Answer 11

Cost-plus pricing

Question 12

surge pricing, demand pricing, or time-based pricing. A flexible pricing strategy where prices fluctuate based in market

Answer 12

Dynamic pricing

Question 13

Free and premium. Its is when comoanies offers a basic version of their product hoping that users will eventually pay to upgrade

Answer 13

Freemium pricing strategy

Question 14

when a company initially sells a product at a high price but lowers when the product drops in relevance (seasonal)

Answer 14

high-low pricing strategy

Question 15

rate-based pricing. Trading time for money, (freelancers, contractors)

Answer 15

Hourly pricing

Question 16

When companies charge the highest possible price for new product and lowers when it become less popular

Answer 16

Skimming pricing strategy

Question 17

a pricing strategy used by businesses to attract customers. Lower peice during its initial offering

Answer 17

Pentration pricing strategy

Question 18

Luxury pricinf, a prestige pricing strategies when companies price their product high to present the image that their producta are high value

Answer 18

Premium pricing strategy

Question 19

Opposite of hourly pricing, charges fee per project

Answer 19

Project based pricing

Question 20

Pricimg based on what customers is willimg to pay. (Bidding)

Answer 20

Value-based pricing

Question 21

Process of moving products from the producer to the intended user in marketing mix

Answer 21

Place

Question 22

can be defined as the activities and processes required to move a product from the producer to the consumer

Answer 22

distribution channels

Question 23

4 tyoes if distrubutiin channel

Answer 23

1.Direct
2. Indirect
3. Duel distribution
4. Reverse channels

Question 24

The manufacturer directly provides the product to teh consumer

Answer 24

direct

Question 25

Company use an intermediary to sell products

Answer 25

indirect

Question 26

Uses combinatiom of direct and indirect selling

Answer 26

Dual distrubution

Question 27

Allows the consumer to send a product to the producer. (Deposite)

Answer 27

Reverse channel

Question 28

Middlemen

Answer 28

intermediaries

Question 29

Independent entitiy who acts as an extension of the producer by reperenting them to the user

Answer 29

agent

Question 30

They purchase goods from a producer in bulk and store them in warehouse

Answer 30

Wholesaler

Question 31

can only carry products from a sigmle brand or company

Answer 31

distributors

Question 32

they can buy form the other intermediaries and sell the products

Answer 32

retailers