Chapter 13: The Marketing Mix: Price

The cost of making 1000 units is $500. What is the price if a profit mark-up of 50% is added?

A supermarket buys in tins of soup for $2 each. It sells them for $3. The profit mark-up is:

A firm is most likely to adopt a low price (penetration) strategy for a product when:

An oil company is keen to maintain market share. It is likely to use:

A firm sells a product for $2. The cost of making the product was $1.50. The profit mark-up is?

A shop has chairs that have been in stock for over a year. To sell them quickly it will use:

When demand and supply are equal in a free market, which of the following is true?

A firm's pricing decision made for one of its products will influence all the answers except:

In a free market, prices are determined by:

All the following factors will be considered by a restaurant when pricing its menu except:

The price for a product rises 10%, product demand falls by a smaller proportion, which is true?

A firm aiming to create a luxury, quality clothes product image will use which pricing strategy

The price of a product rises by 5% and the market supply rises by 20%. Which is true?

The demand for Coke is most likely to be affected by which of the following changes?

When the price of most products increases, the demand for these products will be likely to: