Pricing method used by services companies, such as home repair services, architectural firms and automobile repair services is known as

Pricing method used by services companies, such as home repair services, architectural firms and automobile repair services is known as Correct Answer time and material method

Pricing method used by services companies, such as home repair services, architectural firms and automobile repair services is known as time and material method. The Pricing Methods are the ways in which the price of goods and services can be calculated by considering all the factors such as the product/service, competition, target audience, product's life cycle, firm's vision of expansion, etc. influencing the pricing strategy as a whole.
Bissoy MCQ

Related Questions

Match List I with List II: List I (Pricing Strategies) List II (Description) (A) Ramsay pricing (I) Setting a high price when a product is first introduced and gradually lowering price as it gains scale (B) Price skimming (II) Firm charges lower price (than the ongoing price) to gain market entry (C) Cost plus pricing (III) Price deviations from marginal cost should be inversely proportional to price elasticity of the product (D) Penetration pricing (IV) It is full cost pricing strategy that also includes mark up for target return, degree of competition, price elasticity and availability of substitutes. Choose the correct answer from the options given below:
Product line pricing strategy includes which combination of the following?
1. Public utility pricing
2. Complementary goods pricing
3. Spare parts pricing
4. Load factor pricing
Select the correct answer:
Consider the following statements about the income calculation methods 1. The method of measuring the aggregate value of spending that the firms receive for the final goods and services which they produce is called the expenditure method. 2. The method of measuring the sum total of all factor payments is called the income method. 3. The method of measuring the aggregate value of final goods and services produced by all the firms is called the product method. Which of the statements given above is/are correct?
In pricing one new emerging model is Outcome Based Pricing Model. When pricing is done for the IT industry., which of these will represent Outcome Based Pricing?
Cost plus pricing is considered appropriate for which combination of the following? (i) Product Tailoring (ii) Public Utility Pricing (iii) Refusal Pricing (iv) Monopoly Pricing Choose the correct answer from the code given below:
Cost plus pricing is considered appropriate for which combination of the following?
i. Product Tailoring
ii. Public Utility pricing
iii. Refusal pricing
iv. Monopoly pricing
Choose the correct answer
Cost-plus pricing is considered appropriate for:
(I) Product Tailoring
(II) Public Utility Pricing
(III) Refusal Pricing
(IV) Monopoly Pricing
The question given below consists of a statement, followed by three arguments numbered I, II and III. You have to decide which of the arguments is/are ‘strong’ arguments and which is/are ‘weak’ arguments and accordingly choose your answer from the alternatives given below each question. Statement: As a trade war looms, one of Chinese President Xi Jinping’s biggest weapons could be boycotts of American brands by his country’s legion of consumers. But Xi would also be risking collateral damage at home, The China operations of all-American brands ranging from Coca-Cola Co. and McDonald’s Corp. to Walt Disney Co. are co-owned by state-backed Chinese firms.  Which among the following arguments support the above statement in the best possible manner? Arguments: I. One of Coke’s main China partners is government-backed COFCO Corp., Shanghai Disneyland is part owned by a local consortium, and McDonald’s franchisee in the country is controlled by state-backed conglomerate Citic Ltd. and private-equity firm Citic Capital Holdings.  II. Even when Chinese companies don’t have direct ownership links with U.S. brands, boycotts or other non-tariff retaliation would hit the local partners of those American companies. III. The number of big clean wins in terms of striking against the other guy (American brands) - without accidentally punching your own guy (Chinese firms) in the face - is extremely large.
Study the given bar graph and answer the question that follows. The given bar graph represents the Sales Turnover (in Rs. crore) of five automobile companies A, B, C, D and E during 2014-2015 and 2015-2016. The X-axis represents the Companies, and the Y-axis shows the Sales Turnover (in Rs. crore). (The data shown here is only for mathematical exercise. They do not represent the actual figures of the company.) By what percentage is the average sales turnover of all the companies combined in 2015-2016 more than the average sales turnover of the companies A, C and E in 2014-2015 (to the nearest whole number)?
Select the correct sequence of steps in setting a pricing policy.
1. Determining demand
2. Analysing competitors' costs, prices and offers
3. Selecting the final price
4. Selecting the pricing objective
5. Estimating costs
6. Selecting a pricing method