Enterprise & Marketing Assignment 4

Complete all sections of this assignment and then click continue to complete the second stage of the assignment.

Click here to download this assignment if you want to complete it on paper before typing up your answers. This is not a coursework task, but will help when you return to school and will develop your understanding of exam topics.

There are 48 marks available for this work and, if completed in detail, this should take about one hour to complete.

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1. What would a business consider (think about) when setting prices for its products and/or services?    [5]

2. Explain what psychological pricing is.    [3]

3. Explain what price penetration pricing is.    [3]

4. Explain what price skimming pricing is.    [3]

5. Explain what competitive pricing is.    [3]

6. State an appropriate pricing strategy for each of these new products/businesses and explain why you have chosen each strategy.     [6]

a. A new brand of coffee.

b. The next iPhone.

c. A cafe opening within a busy town centre.

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