Mini-Quiz: Setting the Price of your Product or Service

1. What is the reason to examine what others are changing for a similar item?

   You want to get a competitive advantage and establish a nicheThat is correct. You know about pricing. You want to charge exactly the same as your competitorsSorry, not correct. Try another button. It is a way to copy their ideasGood try, but not right. Select another answer.

2. How could you justify charging more than your competitors?

   You should never charge more than your competitorsOops! Wrong answer. Re-read the question and try again. Your product provide greater perceived value to the customerCorrect. You are doing great! Tell people you need the moneySorry, not correct. Try another button.

3. When do you emphasize price in your advertising?

   When there is nothing good to say about your productGood try, but not right. Select another answer. To draw in price-conscious buyersThat is correct. You know about pricing. When your product is extremely expensiveOops! Wrong answer. Re-read the question and try again.

Pick an answer to see instant feedback. Re-read the lesson if you miss one.