List - I List - II (a) Bundle pricing (i) Price for any product is deliberately fixed lower than the prices of competitors (b) Parity pricing (ii) Prices fixed for similar products and services are the same as competitor’s prices (c) Penetration pricing (iii) Price fixation is allowed at levels higher than competitors (d) Premium pricing (iv) Involves being the leader in fixing prices by benchmarking them (v) Set of products and services are clubbed together and charged at lower than the sum of individual elements in the mix
The question requires matching pricing strategies from List I with their corresponding explanations in List II.
Pricing Strategy Explanations
Let's analyze each pricing strategy:
- Bundle pricing (a): This involves combining multiple products or services and selling them as a single package, often at a reduced price compared to buying them individually. This aligns with explanation (v): "Set of products and services are clubbed together and charged at lower than the sum of individual elements in the mix".
- Parity pricing (b): This strategy involves setting prices at the same level as competitors for similar products or services. This matches explanation (ii): "Prices fixed for similar products and services are the same as competitor’s prices".
- Penetration pricing (c): This strategy involves setting a low initial price for a new product or service to quickly attract a large number of customers and gain market share. This corresponds to explanation (i): "Price for any product is deliberately fixed lower than the prices of competitors".
- Premium pricing (d): This strategy involves setting a high price point to signal high quality, luxury, or exclusivity to consumers. This aligns with explanation (iii): "Price fixation is allowed at levels higher than competitors".
Matching Summary
Based on the definitions:
- (a) Bundle pricing matches (v).
- (b) Parity pricing matches (ii).
- (c) Penetration pricing matches (i).
- (d) Premium pricing matches (iii).
Therefore, the correct match is (a)-(v), (b)-(ii), (c)-(i), (d)-(iii).
Important Questions from Marketing mix
Which of the following statements represents marketing ?
Match the items of List - I with List - II and denote the code of correct matching :
List - I List - II (a) Acceptability (i) Convenience Aspect (b) Affordability (ii) Functional and Psychological Aspects (c) Accessibility (iii) Information and knowledge Aspects (d) Awareness (iv) Economic and Psychological Aspects - Which one is not a part of Marketing Mix ?
Match List – I and List – II and indicate the correct code :
List – I List – II a. Convenience goods i. Consumer purchases them frequently, immediately and with minimal effort. b. Shopping goods ii. Consumer compares them on the basis of suitability, quality, price and style. c. Speciality goods iii. These are goods with unique characteristics or brand identification. d. Unsought goods iv. Consumers are not aware of them and normally do not think of buying them. Codes :
- Give the correct sequence for Marketing strategy.
(i) Promotion
(ii) Packing
(iii) Analysing
(iv) Developing
(v) Distribution
(vi) Pricing
Code :
