Business Studies - 0450 CIE

Price:

Muhtasari

Price is the only part of the marketing mix that brings money in; the rest cost money. Set the price too high and customers walk away; set it too low and the firm gives away profit it could have earned. Choosing a pricing method is one of the most important and most tested decisions a business makes.

In this lesson you will compare the main pricing methods, cost-plus, competitive, penetration, skimming and promotional, learn the benefits and limitations of each, and practise recommending the right one for a given situation. You will also meet price elasticity of demand and see why it decides whether raising a price will help or hurt revenue.

Malengo

Pricing methods (benefits and limitations of different methods), e.g. cost plus, competitive, penetration, skimming, and promotional
Recommend and justify an appropriate pricing method in given circumstances
Understand the significance of price elasticity: difference between price elastic demand and price inelastic demand; importance of the concept in pricing decisions (knowledge of the formula and calculations of PED will not be assessed)

Somo la Sauti

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Maelezo ya Somo

The right price depends on the product, the competition and how sensitive customers are to price. A new product needs a different strategy from one with many rivals, and a firm that misjudges how customers react to a price change can lose revenue overnight. Exam questions regularly ask you to select and justify a pricing method, so understanding the trade-offs is essential.

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Tathmini ya Somo

Hongera kwa kukamilisha somo la Price:. Sasa kwa kuwa umechunguza dhana na mawazo muhimu, ni wakati wa kuweka ujuzi wako kwa mtihani. Sehemu hii inatoa mazoezi mbalimbali maswali yaliyoundwa ili kuimarisha uelewaji wako na kukusaidia kupima ufahamu wako wa nyenzo.

Utakutana na mchanganyiko wa aina mbalimbali za maswali, ikiwemo maswali ya kuchagua jibu sahihi, maswali ya majibu mafupi, na maswali ya insha. Kila swali limebuniwa kwa umakini ili kupima vipengele tofauti vya maarifa yako na ujuzi wa kufikiri kwa makini.

Tumia sehemu hii ya tathmini kama fursa ya kuimarisha uelewa wako wa mada na kubaini maeneo yoyote ambapo unaweza kuhitaji kusoma zaidi. Usikatishwe tamaa na changamoto zozote utakazokutana nazo; badala yake, zitazame kama fursa za kukua na kuboresha.

Adding a percentage mark-up for profit to the unit cost is called: A. penetration pricing B. cost-plus pricing C. price skimming D. competitive pricing Answer: B
Launching a new, unique product at a high price is called: A. penetration pricing B. promotional pricing C. price skimming D. cost-plus pricing Answer: C
If demand is price elastic, raising the price will cause total revenue to: A. rise B. fall C. stay exactly the same D. become zero Answer: B
Setting a low price to break into a market is: A. skimming B. cost-plus C. penetration pricing D. promotional pricing Answer: C
Demand for a product with very few close substitutes is most likely to be: A. price elastic B. price inelastic C. always zero D. fixed by law Answer: B

Fanyia kazi maswali haya kwenye programu

Vitabu Vinavyopendekezwa

Cambridge IGCSE and O Level Business Studies

Manukuu: Fifth edition

Mchapishaji: Hodder Education

Mwaka: 2018

ISBN: 978-1-5104-2123-3

Maelezo: Endorsed textbook with full coverage of the 0450/0986 syllabus, case studies and exam-style questions.

Cambridge IGCSE and O Level Business Studies Revised Coursebook

Manukuu: Third edition

Mchapishaji: Cambridge University Press

Mwaka: 2018

ISBN: 978-1-108-56398-7

Maelezo: Endorsed coursebook with international case studies and activities for the Core and Supplement content.

Jifunze zaidi kutoka vyanzo huria

Sehemu ya kitabu Pricing Strategies and Future Trends OpenStax · Introduction to Business
What strategies are used for pricing products, and what are the future trends?

"Introduction to Business: Pricing Strategies and Future Trends" by OpenStax, OpenStax, Rice University, licensed under CC BY 4.0 (https://creativecommons.org/licenses/by/4.0/). Source: https://openstax.org/books/introduction-business/pages/11-9-pricing-strategies-and-future-trends. Access for free at https://openstax.org/books/introduction-business/pages/1-introduction

Vimechapishwa na mashirika mengine chini ya leseni huria na vinatajwa kama wanavyoomba. Viungo hufungua tovuti zao.

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Ungependa kufanya mazoezi ya maswali ya majaribio kuhusu Price:? Pakua programu ya Green Bridge CBT ili kupata maswali ya majaribio na tathmini kamili za mazoezi kuhusu mada hii.

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Msaada Nje ya Mtandao - Jifunze Wakati Wowote, Popote Pale

Ratiba ya Daraja la Kijani

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