Pricing Strategy mock exam
Master Your Pricing Strategy
Test your knowledge and understanding of strategic pricing with our comprehensive mock exam. This quiz is designed for marketing professionals, students, and anyone interested in mastering the art of pricing strategy.
Key Features:
- 16 Engaging Questions
- Multiple Choice and True/False Formats
- Instant Feedback on Your Answers
What is the most common pricing procedure?
Cost-plus pricing
Customer-driven pricing
Share-driven pricing
Which pricing procedure is based on the customer?
Cost-plus pricing
Customer-driven pricing
Share-driven pricing
Which pricing procedure aims to findcombination of margin and market share that maximizes profitability over the long term?
Cost-plus pricing
Customer-driven pricing
Share-driven pricing
Tradeoffs come in two forms; the willingness to lower price to exploit a market opportunity to drive volume, and the willingness to give up volume by raising prices.
True
False
This principle for a successful strategic pricing means that differences in pricing across customers and changes over time reflect differences or changes in the value to customers.
Value Based
Proactive
Profit-driven
The company anticipate disruptive events and develop strategies in advance and deal with them. Which principle for a successful strategic pricing is this?
Value Based
Proactive
Profit-driven
This principle for a successful strategic pricing means that the company evaluate its success at price management by what it earns relative to alternative investments rather than revenue it generates relative to its competitors.
Value Based
Proactive
Profit-driven
What is the correct order of The Strategic Pricing pyramid from bottom to top?
1. Pricing Policy
2. Price Sturcture
3. Value Creation
4. Price Level
5. Value Communication
5-3-2-1-4
3-2-5-1-4
3-4-2-5-1
2-3-4-5-1
Which approach to value creation is stated below?
product - cost - price - value - customers
Customer-led
Product-led
Which approach to value creation is stated below?
customers - values - prices - costs - products
Customer-led
Product-led
Check off the 2 differentiation value
Monetary value
Cultural value
Political value
Psychological value
Societal value
What is the correct order of the Buying Process?
1. Selection
2. Information Gathering
3. Fulfillment
4. Origination
2-4-3-1
2-4-1-3
4-2-1-3
4-2-3-1
In value communication, there are three product characteristics namely;
1. Relative cost of search
2. Type of Benefits Sought
3. Influence in value perception
True
False
To conduct a value-based segmentation, a six-step process is needed
True
False
There are seven criteria for determining the most profitable price metrics for an offering.
True
False
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