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Q:

Rearrange the parts of the sentence in correct order.

Daily pricing

P : is being seen as a ploy

Q : government to escape any political backlash

R : to increase prices while allowing the

 

A) RQP B) PRQ
C) QPR D) PQR
 
Answer & Explanation Answer: B) PRQ

Explanation:
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Filed Under: English
Exam Prep: Bank Exams , CAT , GRE , TOEFL

Q:

Match the characteristics with their market structure:

(a) MR = MP
(b) Elasticity of demand depends on pricing policies of rivals

 

A) (a) Pure Monopoly, (b) Monopolistic competition B) (a) Pure competition, (b) Oligopoly
C) (a) Pure competition, (b) Pure Monopoly D) (a) Pure Monopoly, (b) Oligopoly
 
Answer & Explanation Answer: B) (a) Pure competition, (b) Oligopoly

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Filed Under: Indian Economy
Exam Prep: Bank Exams

Q:

Match the characteristics with their market structure:
(a) Expand out put until MC = MR
(b) Elasticity of demand depends on pricing policies of rivals

A) (a) Pure competition, (b) Pure Monopoly B) (a) Pure Monopoly, (b) Monopolistic competition
C) (a) Pure competition, (b) Oligopoly D) (a) Monopolistic competition, (b) Oligopoly
 
Answer & Explanation Answer: D) (a) Monopolistic competition, (b) Oligopoly

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Filed Under: Indian Economy
Exam Prep: Bank Exams

Q:

Designing pricing strategies and programs :

How do buyers respond to price changes?

Answer

Depending upon the increase or decrease in price rates, buyers may respond accordingly. Some buyers may assume that quality of the product may have reduced to to reduction in price or that the company may not be selling the product as per expectations. The other assumption that buyers may make is that prices may go down in the future and so may delay purchase. On the other hand increased price may lead to a decrease in demand as the product may be more costly for the consumers who may switch to another seller offering similar products at lower prices.

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Subject: Marketing and Sales

Q:

Designing pricing strategies and programs :

How do sellers respond to price changes of their competitors?

Answer

In the light of competition, it may be seen that competitors may initiate price changes. If the cutting off on prices does not affect the company, then the current pricing strategy itself can be continued to maintain the profitability of the company. However if the price change on one firm is affecting the other, then it can:


a.reduce the product price at par with competitors’ price or below competitors’ price


or


b. Provide added advantage to the existing product like better quality, or ‘a buy one get one free’ offer.


or


c.Provide better quality of the product at a higher price thereby not being at par with the competitors.

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Subject: Marketing and Sales