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MBA Marketing Product and Pricing Strategy — practice questions

Explore 59 free Product and Pricing Strategy questions in MBA Marketing Marketing. Open each question or exercise to read its content, reference answers and available explanation.

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Product and Pricing Strategy questions and exercises with answers

Showing questions 1–30 of 59.

A shopper grabs bread, milk and a soft drink without any planning. These are:Read the answer and worked solution →A family compares furniture across three stores for weeks before buying. Furniture is a:Read the answer and worked solution →A buyer searches for one designer handbag and refuses any substitute. That bag is a:Read the answer and worked solution →Funeral services, which nobody plans to buy, are an example of:Read the answer and worked solution →Selecting a brand name, packaging, colours, warranty and service programme together forms the:Read the answer and worked solution →A drinks firm adds a new flavour under a brand it already sells. This is a:Read the answer and worked solution →The pattern of sales and profits for a product over time is called the:Read the answer and worked solution →A newly launched product has heavy promotion, limited distribution, high costs and tiny profits. It is in the:Read the answer and worked solution →Sales are climbing fast, profits are healthy and many rivals are piling in. The product is in the:Read the answer and worked solution →A firm launches a new gadget at a high price and lowers it over time. This strategy is:Read the answer and worked solution →A wine maker launches at a low price hoping to win a large share fast. This is:Read the answer and worked solution →A grocer prices coffee and bacon below the usual markup to pull shoppers into the store. This is:Read the answer and worked solution →An item deliberately priced below cost as part of that tactic is called a:Read the answer and worked solution →A shop tags a shirt at 199 rather than 200 to suggest a bargain. This is:Read the answer and worked solution →A watchmaker raises its price so buyers see the watch as better and higher in status. This is:Read the answer and worked solution →A studio sells a camera and its lens together at one price. This is:Read the answer and worked solution →Computer algorithms that let prices move with demand are called:Read the answer and worked solution →The specific group of consumers a firm aims its marketing at is the:Read the answer and worked solution →Unique features that the target market sees as significant and better than rivals' give a firm its:Read the answer and worked solution →Dividing a market by age or income uses which form of segmentation?Read the answer and worked solution →Splitting a market by personality or lifestyle is:Read the answer and worked solution →A moderator leads eight to twelve people in a deep discussion of one product concept. This is a:Read the answer and worked solution →Catch the pricing movesRead the answer and worked solution →Pop the product typesRead the answer and worked solution →Run the marketing gatesRead the answer and worked solution →Slice the marketing wordsRead the answer and worked solution →New or establishedRead the answer and worked solution →Sort the segmentation basesRead the answer and worked solution →Type the numberRead the answer and worked solution →Product and price bingoRead the answer and worked solution →

Worked practice questions

A shopper grabs bread, milk and a soft drink without any planning. These are:

  1. Convenience products
  2. Conference products
  3. Consignment products
  4. Contingent products
Show answer and solution

Correct answer: A. Convenience products

1. They cost little and take no shopping effort. 2. They are bought routinely. 3. They are convenience products. _Source: OpenStax Introduction to Business, Chapter 11, Creating Products and Pricing Strategies to Meet Customers' Needs._

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A family compares furniture across three stores for weeks before buying. Furniture is a:

  1. Storing product
  2. Shopping product
  3. Standing product
  4. Starting product
Show answer and solution

Correct answer: B. Shopping product

1. Price, suitability and style are compared. 2. The comparison runs brand to brand and store to store. 3. It is a shopping product. _Source: OpenStax Introduction to Business, Chapter 11, Creating Products and Pricing Strategies to Meet Customers' Needs._

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A buyer searches for one designer handbag and refuses any substitute. That bag is a:

  1. Specialty product
  2. Seasonal product
  3. Secondary product
  4. Sample product
Show answer and solution

Correct answer: A. Specialty product

1. The search is long and hard. 2. No other brand will do. 3. It is a specialty product. _Source: OpenStax Introduction to Business, Chapter 11, Creating Products and Pricing Strategies to Meet Customers' Needs._

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MarketingConsumer BehaviourDistribution and PromotionAdvertisingBusiness StudiesPromotion MixConsumer Buying BehaviourInformation Technology