Question detail
SolarSprout serves online shoppers while training staff; the case evidence includes customer retention of ?2,824, sales of 104 units, and a 43% change in costs or demand. Which option best applies Evaluate factors and assess suitable pricing methods for a given business?
Try the question, check the answer, then read the explanation to understand the curriculum point.
At a glance
MCQ
Type
practice
Style
Topic
The elements of the marketing mix: price, product, promotion and place
Question
- A. Use factors, assess, evaluate, suitable to judge unit contribution, managers impact, and the business objective in Price.
- B. Give only a definition of The elements of the marketing mix: price, product, promotion and place without using the case evidence.
- C. Treat margin and markup as identical and ignore the effect on managers.
- D. Choose the largest sales figure without checking costs, finance, or context.
Answer
The correct option is: Use factors, assess, evaluate, suitable to judge unit contribution, managers impact, and the business objective in Price.
Explanation
The option is correct because Use factors, assess, evaluate, suitable to judge unit contribution, managers impact, and the business objective in Price. The case evidence gives ?4,324, 104 units, and 43%, so the answer must explain the commercial effect rather than repeat a definition. The distractors are weaker because they confuse margin and markup, miss the managers, or ignore the business objective.
Common mistake
Price common mistake 1
Giving a vague answer instead of directly addressing: Evaluate factors and assess suitable pricing methods for a given business..
Answer by clearly explaining how to evaluate factors and assess suitable pricing methods for a given business..
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