Question detail
EcoWash serves online shoppers while training staff; the case evidence includes customer retention of ?5,080, sales of 150 units, and a 21% change in costs or demand. Which option best applies Explain factors influencing pricing decisions, including costs, market nature, competition and product life cycle?
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 including, influencing, pricing, factors to judge capacity utilisation, 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 internal and external finance 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 including, influencing, pricing, factors to judge capacity utilisation, managers impact, and the business objective in Price.
Explanation
The option is correct because Use including, influencing, pricing, factors to judge capacity utilisation, managers impact, and the business objective in Price. The case evidence gives ?6,580, 150 units, and 21%, so the answer must explain the commercial effect rather than repeat a definition. The distractors are weaker because they confuse internal and external finance, miss the managers, or ignore the business objective.
Common mistake
Price common mistake 1
Giving a vague answer instead of directly addressing: Explain factors influencing pricing decisions, including costs, market nature, competition and product life cycle..
Answer by clearly explaining how to explain factors influencing pricing decisions, including costs, market nature, competition and product life cycle..
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