EMKT503 Unit 9 Pricing Decisions Subjective Questions with Answers

EMKT503 Unit 9 Subjective Questions with Answers - Pricing Decisions

Q. Explain Pricing Decision.

Answer: Pricing determines revenue and affects demand, image and profitability. This concept helps marketers take better decisions related to customers, markets and strategy. In examination, explain it with meaning, features and example.

Q. Explain Cost Based Pricing.

Answer: Price is set by adding margin to cost. This concept helps marketers take better decisions related to customers, markets and strategy. In examination, explain it with meaning, features and example.

Q. Explain Value Based Pricing.

Answer: Price is based on customer perceived value. This concept helps marketers take better decisions related to customers, markets and strategy. In examination, explain it with meaning, features and example.

Q. Why is Pricing Decisions important?

Answer: Pricing Decisions is important because it helps managers understand customers, competitors and strategic market decisions. It improves planning, implementation and customer satisfaction.