G10 T1 The Marketing Mix - Price - Importance of Correct Pricing

• Business Studies
• Secondary Education

Tuesday, 2nd January, 2024

Welcome Back to School!

• To understand the outline of the term.
• To complete back to school activities.

What is the selling price of this product? 

28 aed

28 AED

28 aed

What is the selling price of this product? 

700 AED

What is the selling price of this product? 

60 AED 

What is the selling price of this product? 

10,669.00 AED

What is the selling price of this product? 

295 AED

Which product would you buy- the branded or unbranded?

aBranded Chopard sunglasses

bUnbranded sunglasses

1. What does the price say about a product?
2. How would it affect a business?

The role of price in the marketing mix is to bring in revenue.

1. true
2. false
3. -
4. -

People may only want products of high price because ...

1. It means the product is exclusive.
2. It is available to everybody.
3. The product is branded.
4. -

What is the meaning of 'demand'?

1. The number of products customers can buy.
2. The number of customers who want the product.
3. The number of competitors in a market.
4. -

People measure the ______ by comparing the product and price.

1. demand
2. exclusive
3. value

In competitive markets, businesses have to sell at ________ prices or slightly ______ .

1. branding, increase
2. similar, lower
3. value, similar

What is a pricing strategy?

1. It is the way a business brands its products.
2. It is the way a business sets the price for their products.
3. It is the factor why pricing is important.

Governments set laws to guarantee ______ prices.

1. fair
2. high - expensive
3. low- cheap
4. -

The price of a product should be higher than the total _____ of making it.

1. service
2. cost
3. laws
4. -