G10 T1 The Marketing Mix - Methods of Pricing

• Business Studies
• Secondary Education

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

b.socrative.com

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

peer assessment

guaranteed= for sure

doesn't think about demand or competitors

Businesses are sure to make profits by using the cost-plus pricing method.

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

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

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

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 first 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. 

What is a disadvantage of the price skimming method?

1. It may be difficult to make a profit.
2. Conducting market research.
3. Only some consumers can buy the products.

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 means businesses do not have to spend a lot on advertising.

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

www.quizlet.live

sso.moe.gov.ae

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

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