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- 1. Multiple Choice
Price skimming is often used for products with high research and development costs.
True
False
- 2. Multiple Choice
Which of the following products would NOT likely use price skimming?
innovative products
products with a high quality
products with a premium image
products with a value-for-money image
- 3. Multiple Choice
An early adopter is
a customer who gets up early
a customer who likes to purchase a product as soon as it is launched onto the market
a business that produces innovative products
An power plug you use with your devices
- 4. Multiple Choice
Which of the following is NOT a benefit of using price skimming?
It helps to portray a premium image
it helps to get back money spent on research and development
It might not suit customers who make value-for-money decisions
It allows the business to make profits before other businesses enter the market
- 5. Multiple Choice
Promotional pricing is a permanent pricing strategy where a product is sold for a very low price
True
False
- 6. Multiple Choice
Buy 2, pay for 1, is the same as Buy one get one free (BOGOF)
True
False
- 7. Multiple Choice
Promotional pricing is most often used when
introducing a new product to the market
building an image of high quality
marketing innovative products
clearing unwanted stock
- 8. Multiple Choice
Which of the following is NOT a limitation of promotional pricing?
It increases customers' perception of value-for-money
customers might doubt the quality of the product
the price might not cover the costs, in which case a loss will be made
it may lead to a price war
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