G10 T1 Methods of Pricing

• Business Studies
• Secondary Education

Tuesday, 29th October 2024

3,571 sparkling diamonds (totalling 38.55 carats), topaz, pearls, 18 karat gold 2479.26 grams and 5892.88 grams pure silver, SHUMUKH is the epitome of luxury.

finest natural ingredients sourced from the furthest corners of the globe, culminating in a scent that is as unforgettable as it is mesmerising with notes of amber, sandalwood, musk, rare pure Indian agarwood, pure Turkish rose, patchouli ylang-ylang and frankincense that are estimated to last on the skin for more than 12 hours.

Can you guess the price of this perfume?

1. 18,000 AED
2. 58,000 AED
3. 1,800,000 AED
4. 4,800,000 AED

3500 diamonds

18kt gold

wordwall.net

product shortages- demand

supply disruptions

the pandemic caused bottlenecks in shipping - disrupted supply chain

the flow of goods from one country to another

b.socrative.com

Why did the price of products increase straight after the pandemic?

straight after the pandemic

guaranteed= for sure

doesn't think about demand or competitors

2.5 is 50%

Maryam sells phone accessories and covers in Fujairah.
Total cost: 4,000 AED
Output: 800 units Mark-up:40%
What is the selling price for one phone cover?
Formula: total cost ÷ output + mark-up = selling price

1. 7 AED
2. 12 AED
3. 20 AED
4. 50 AED

business goal is to stay in the market

water brands

increase price points once they are known

give me an example of a business with many competitors? 

can differentiate itself through marketing/ adverts

What is the SECOND step of competitive pricing?

1. compare prices of similar products
2. conduct market research
3. set a price that is similar or slightly lower
4. -

If the price is too low it will lose it's value and brand image. 

When is the price reduced in the price skimming method?

1. When there is high demand.
2. When there is very low demand.
3. When demand starts to decrease (less).

advertise rolex - tennis tournaments 

Promotional pricing is used for a specific amount of time and is useful to gain new customers.

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

55 million

Premium pricing is for luxury and exclusive products such as Rolex.

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

Match the pricing strategies to their meaning. 

play.blooket.com

www.quizlet.live

I can...
1. Identify the methods of pricing
2. Recognize the advantages and disadvantages of each method.

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