Resources Online Training Pricing Strategy: How To Find The Ideal Price For A Product Name* First Last Email* 1. What is the formula/Strategy for COST-PLUS PRICING?* COST + MARKUP (%) = PRICE MARKUP (%) + PRICE = COST COST + PRICE = MARKUP (%) 2. When pricing your products when is Competitive Pricing often used?* Competitive Pricing is often used when you are the only show in town. Competitive Pricing is often used in a highly Saturated Market Competitive Pricing is not used in a Saturated Market. 3. The video talks about Pricing your products. This pricing strategy is best used by a business that has stand-out products with features that other companies can’t compete with.* True False 4. Which company uses the Price Skimming strategy and has been for years?* AT&T Apple Google 5. Penetration Pricing is when you use ____ to enter a market.* The same amount A higher price A lower price 6. Which of these are examples of Penetration Pricing?* Lou’s Pizza opened in May of 2021; Business was doing Great! The business was steady, Sales increased every year. There Sandwich line was not doing great, so to help increase sales, they ran a special on Sub Sandwiches. New Boutique opens and offers the first 100 customers a 10% Discount. Buddy’s Hardware Store, which has been open since 1999. Every Spring has the largest tool sale. All the above. 7. When Value-Based Pricing is done right, it’s a great way to build customer loyalty.* True False 8. Loss Leader Pricing is heavily used in which Industry?* Cooking Industry The Car Industry Video Game Industry 9. What is Anchor Pricing?* Total Savings, listed on Price Tag? Original Price, listed on the Price Tag Sale and Original Price listed on the Price Tag This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.