G10 T1 The Marketing Mix - Price - Importance of Correct Pricing

• Business Studies
• Secondary Education

Monday, 28th October 2024

What is the selling price of this product? 

12 aed

What is the selling price of this product? 

28 aed

28 AED

28 aed

What is the selling price of this product? 

630 AED

What is the selling price of this product? 

11.75 AED 

What is the selling price of this product? 

6499.00 AED

What is the selling price of this product? 

149 AED

1800 AED

104 AED

1. What does the price say about a product?
2. How would it affect a business?

The role of price in the marketing mix is to bring in revenue.

1. true
2. false
3. -
4. -

Market Demand: Pricing needs to match what customers will pay for. If price is low then demand will be high. 

Affordable: business need to think about their competition and the price they set. 

People may only want products of high price because ...

1. It means the product is exclusive.
2. It is available to everybody.
3. The product is branded.
4. -

What is the meaning of 'demand'?

1. The number of products customers can buy.
2. The number of customers who want to buy the product.
3. The number of competitors in a market.
4. -

People measure the ______ by comparing the product and price.

1. demand
2. exclusive
3. value

In competitive markets, businesses have to sell at ________ prices or slightly ______ .

1. branding, increase
2. similar, lower
3. value, similar

What is a pricing strategy?

1. It is the way a business brands its products.
2. It is the way a business sets the price for their products.
3. It is the factor why pricing is important.

The price of a product should be higher than the total _____ of making it.

1. service
2. cost
3. laws
4. -

Governments set laws to guarantee ______ prices.

1. fair
2. high - expensive
3. low- cheap

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