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 COST + PRICE = MARKUP (%) MARKUP (%) + PRICE = COST 2. When pricing your products when is Competitive Pricing often used?* Competitive Pricing is often used in a highly Saturated Market Competitive Pricing is not used in a Saturated Market. Competitive Pricing is often used when you are the only show in town. 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?* Apple AT&T 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?* New Boutique opens and offers the first 100 customers a 10% Discount. All the above. Buddy’s Hardware Store, which has been open since 1999. Every Spring has the largest tool sale. 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. 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?* Video Game Industry The Car Industry Cooking 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.