Question

both 8 and 9 please!

Question 8 4 pts The concept of pricing product based upon its value to the customer is: Against the law A concept that is not applicable to wholesaling A concept used by manufacturers only None of the above Question 9 4 pts When marketing professionals consider such demographics as age, income, education and/or gender they are applying this information for ___type of customers: Manufacturing Medium to large businesses only General public All the above

Answer 1

Q8: The concept of pricing of a product based on its value to customer is:

Answer: Option – None of the above

Value based pricing is setting on pricing of the product based on the value which the customer perceives for a particular product. This is different from the standard cost plus mark-up based pricing technique and is a very popular example of use of this technique is in fashion industry wherein some certain designer clothes actually are having a high value pricing based on the customer perception.

The option given in this question does not fit for this and hence the correct option is none of the above.

Q9: when marketing professionals consider such demographics as age, income, education and/or gender they are applying this information for _______ Type of customer

Answer: Option – All of the above.

Organisations usually look at various segments of their customers and general public to decide on their customer profile and segment the market. By using such information they can decide to which type of customers to focus from a particular segment and such as they need to target their products towards a particular industry segment which might be a manufacturing unit or a medium sized business. They can also apply such information to general public to decide what kind of customers from they want to reach out to and look to maximize the profits. Hence the correct answer tot his option is last option i.e. All of the above