All of these could be examples of product extension strategies, except:
1. Developing a new market for the product
2. Stretching the quantity available over a wider geographical region
3. Selling overseas
4. Finding new uses for the product.
Market segmentation is done by firms for all of the following reasons, except:
1. to increase market share
2. to extend products into new markets
3. to develop multi-purpose advertising campaigns
4. to assist in new product development
Psychological pricing is:
1. related to the forces of supply and demand and how they affect pricing
2. removing wholesalers from the distribution channel
3. raising the customer's awareness of the perceived values and qualities of the product, thereby building its brand image
4. pricing to reinforce the concept of value; e.g. 99 cents instead of $1.00.
Give an example of each of the following:
1. Promotional pricing
2. Product bundle pricing
3. Captive product pricing
4. Geographical pricing
This posting contains answers to following MCQs on Pricing.