Marketing Management | Chapter 2 | Part 4 | MBA MCQs | MM

 

1. Lawyers, accountants, and other professionals typically price by adding a standard markup for profit. This is known as ____________.
   1.   Variable cost
   2.   Cost-plus pricing
   3.   Value-based pricing
   4.   Penetration pricing
2. The simplest pricing method is ____________.
   1.   Variable cost
   2.   Cost-plus pricing
   3.   Value-based pricing
   4.   Penetration pricing
3. Pricing is significant for firms because ____________.
   1.   It determines revenues generated by the firms
   2.   It affects the level of funds available for other elements of marketing mix
   3.   It determines profits earned by the firms
   4.   All of the above
4. Which of the following statement is not correct?
   1.   Price exist in different forms for products of different nature
   2.   Price affects the decision about acquiring the product
   3.   Price is the only element that produces revenues
   4.   None of the above
5. Which of the following is the internal factor influencing pricing?
   1.   Price elasticity of the demand of the product
   2.   Bargaining power of suppliers
   3.   Competitors’ policy
   4.   Social considerations.
6. Markup pricing comes under which of the method?
   1.   Value-based pricing
   2.   Competition-based pricing
   3.   Cost-based pricing
   4.   Going rate pricing
7. Which of the following is not the pricing strategy?
   1.   Geographical pricing
   2.   Packaging
   3.   Psychological pricing
   4.   Product mix pricing
8. Which of the following internal factors influence objectives and marketing strategy of the pricing philosophy?
   1.   Corporate and marketing objectives of the firm.
   2.   The characteristics of the product
   3.   Price elasticity of demand of the product.
   4.   All of the above
   5.   The image sought by the firm through pricing
9. Which of the following internal factors influence objectives and marketing strategy of the pricing philosophy?
   1.   The stage of the product in the PLC
   2.   All of the above
   3.   Costs of manufacturing and marketing
   4.   Turnaround rate of the product
   5.   Composition of the product line of the firm.
10. Which of the following external factors influence objectives and marketing strategy of the pricing philosophy?
    1.   Market characteristics
    2.   All of the above.
    3.   Competitors’ pricing policy
    4.   Social consideration
    5.   Buyer behaviour in respect of the given product
11. Which are the objectives of pricing?
    1.   Profit maximization
    2.   Achieving particular sales volume
    3.   Achieving particular market share
    4.   All of the above
12. Which are the objectives of pricing?
    1.   Deeper penetration of the market
    2.   Entering new markets
    3.   Keeping parity with competitors
    4.   Stabilizing price and margins in the market.
    5.   All of the above
13. Price setting decision is decided by ____________.
    1.   Sales team
    2.   Marketing team
    3.   Top management
    4.   Finance team
14. Price setting decision is decided by ____________ in large companies
    1.   Divisional management team
    2.   Marketing department
    3.   Top management
    4.   Both a and c
15. FOB-origin pricing, uniform-delivered pricing, zone pricing, base-point pricing, freightabsorption pricing comes under which pricing strategies?
    1.   Price discount
    2.   Promotional pricing
    3.   Geographical pricing
    4.   Differential pricing