PriceOnline version Choose the correct answer! by Gyorgyi Dano 1 What sets the ceiling for product prices? a product manufacturing costs b customer perceptions of the product's value c sellers' perceptions of the product's value d nothing 2 Which is the product driven pricing strategy? a Seller value-based pricing b Competition-based pricing c Customer value-based pricing d Cost-based pricing 3 Companies facing the challenge of setting prices for the first time can choose between two broad strategies: market-penetration pricing and ________ pricing. a market-skimming b market-segmentation c cost-plus d market-value 4 If a company use original or decreasing price, according to demand, the product is in _______ PLC stage. a Growth b Maturity c Introduction d Decline 5 Buyers are less price sensitive when: a the price is high relative to their income b the product they are buying has low quality c the product they are buying is unique d substitute products are easy to find
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