Marketing - Study Mode
[#86] When the companies pay less attention to its own costs or demands and bases its price largely on competition's prices, then it is known as
Correct Answer
(D) psychological pricing
[#87] Which of the following is correct? 1. Advertising is a recurring process. 2. Advertising stimulates the consumers to buy the product. 3. Advertising is expensive in most cases Select the correct answer:
Correct Answer
(B) Both 1 and 3
[#88] Which is the part of 'Product Planning' Image?
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(D) All of the above
[#89] For the following two statements of Assertion (A) and Reason (R) suggest the correct answer. Assertion (A) Low initial price regarded as the principal means for entering into mass market for some new products. Reason (R) Firms generally enter into production of new products with excess capacity of the plant initially.
Correct Answer
(D) (A) and (R) both are correct but (R) is not the right explanation of (A)
[#90] Match the items of List I with that of List II and suggest the correct answer. List-I (Pricing Strategies) List-II (Explanations) a. Customary pricing 1. Ending a price with 99 paise b. Skimming 2. Pricing a product based on perceived expectations of customers c. Penetration pricing 3. Setting a high price which gradually reduces as competitors enter the market d. Psychological pricing 4. Setting a low price for a new product during its intitial offering
Correct Answer
(B) a-2, b-3, c-4, d-1