Commercial Applications
Markup pricing is also called as
- Cost pricing
- Marginal priced
- Cost plus pricing
- Cost based pricing
Marketing Mix
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Answer
Cost plus pricing
Reason — In cost plus pricing, the selling price covers the full cost plus a margin of profit. This margin is known as 'mark up' and therefore cost plus pricing is also known as 'mark up pricing'.
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Related Questions
The strategy of introducing new product in existing market is classified as
- Market development
- Market Penetration
- Product development
- Diversification
Statement 1: A product in the growth stage of its life cycle typically has low competition and high prices.
Statement 2: The maturity stage is characterized by intense competition and product differentiation.
Which of the following is correct?
- Only Statement 1 is correct.
- Only Statement 2 is correct.
- Both statements are correct.
- Both statements are incorrect.
Assertion (A): The concept of the product life cycle suggests that all products follow a predictable pattern of stages from introduction to decline.
Reason (R): The length of each stage in the product life cycle is not fixed and vary based on industry or product type.
- A is true but R is false
- A is false but R is true
- Both A and R are true and R explains A.
- Both A and R are true but R does not explain A.
Which of the following is not included in the function of physical supply?
- Standardization
- Storage
- Packaging
- Transportation