| Date | November 2019 | Marks available | 1 | Reference code | 19N.1.HL.TZ0.31 |
| Level | HL | Paper | 1 | Time zone | no time zone |
| Command term | Question number | 31 | Adapted from | N/A |
Question
Which price setting strategy focuses on measuring all of the costs involved in producing a given product and adding a profit margin?
A. Demand pricing
B. Cost-plus pricing
C. Product line pricing
D. Psychological pricing
Markscheme
B
Examiners report
Syllabus sections
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20N.1.HL.TZ0.28:
Figure 8 shows a range of sunscreen products from different manufacturers.
Figure 8: A range of sunscreen products
[Source: [3 sunscreen products] © International Baccalaureate Organization 2020.]
G&C were the first to launch their sunscreen onto the market in 2015 priced at US$2.99. Solis and Living Suncare launched their products in 2016 at the same price as G&C.
Which strategy of price setting best describes the one used by Solis and Living Suncare?
A. Competitor-based pricing
B. Psychological pricing
C. Product line pricing
D. Demand pricing
- 18M.1.HL.TZ0.30: Product and Promotion are two factors of the four Ps involved in “Marketing mix”. What are...
- 17N.1.HL.TZ0.30: Which term describes a price setting strategy of adding expenses involved in production,...
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22M.3.HL.TZ0.3e:
Explain how the creators of the Impossible Burger are using product, place and promotion from the marketing mix to make it appeal to meat eaters.
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19N.1.HL.TZ0.29:
When a new product is launched in a supermarket, free samples are given out to promote it to customers who wouldn’t normally buy the product, see Figure 9.
Figure 9: Free samples of a new product given to customers
[Source: https://unsplash.com]
What promotional strategy is this an example of?
A. Personal selling
B. Perceptual mapping
C. Celebrity endorsement
D. Advertising
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18M.3.HL.TZ0.2c:
Outline one pricing consideration and how it would stimulate sales of the Natural Brush.
- 19M.1.HL.TZ0.30: Which of the following are in the 4 Ps marketing mix? I. Product II. Packaging III....
- 18N.1.HL.TZ0.28: Which of the following are part of the marketing mix? I. Product II. Place III. People A....
