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Optional MGQs 16 The pricing strategy where a firm adds a particular amount or percentage of profit to the unit cost while determining its price is called _ pricing. A B. Cost-plus pricing Price skimming Marginal pricing Fixed pricing 17 High-tech products involving significant new product development costs. such as the latest televisions are most likely to use pricing. A. Cost-plus pricing B. Price skimming C. Penetration pricing D. Price leadership 18. If a firm prices its products with all prices rounded slightly down, for example, $49.99, or $395, it is utilizing pricing. A. Psychological pricing B. Price leadership C. Price discrimination D. Predatory pricing 19. Which of the following are examples of firms using price discrimination? Public transport discounts for students and the elderly ii. Airlines charging higher prices during holiday season iii. Petrol stations providing cheaper fuel on certain days of the week iv. Zara charging different prices for different clothes A- DOW i+i i+ ii+ iii i + ii + iii+ iv 20 Which of the following is not a requisite condition(s) for price discrimination to occur? A. The firm must have enough market power to set prices B. Transparency should be minimized The firm must be able to segment and separate customers Different market segments must have varying willingness to pay 21. Which of the following is not an advantage of penetration pricing? A It facilitates market entry B. It is likely to build market share quickly It gives the product a high-quality image D. It raises brand awareness quickly