Other questions in this quiz

2. Starts with a lower price to try and capture a share of the market and when it does it will slowly increase the price.

  • Penetrration Pricing
  • Skimming
  • Competitive Pricing

3. This is where a business will add profit mark-up to the cost of making the product COST+PROFIT. It is often used by small businesses as it is quick and easy but may not be very competitive.

  • Competitive Pricing
  • Cost Plus Pricing
  • Penetration Pricing

4. Pays attention to the affect that a price will have on the way a customer thinks.

  • Competitive Pricing
  • Psychological Pricing
  • Skimming

5. Starts with a high price and then this is lowered as the product gets older.

  • Skimming
  • Penetration Pricing
  • Psychological Pricing

Comments

Mama Murtagh

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Have not seen a better quiz available for the students and they have been very surprised with their quick feedback and their excelling skills in Business.

Mama Murtagh

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I would recommend this quiz to any who are looking to get an A* in the GCSE business paper as it has some seriously challenging questions. However with the feedback is a great addition.

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