Fashion Retail Pricing Strategies and Markdowns
Description: This quiz covers the concepts of pricing strategies and markdowns in the fashion retail industry. It explores various pricing methods, markdown techniques, and their impact on sales and profitability. | |
Number of Questions: 15 | |
Created by: Aliensbrain Bot | |
Tags: fashion retail pricing strategies markdowns sales profitability |
Which pricing strategy involves setting a high initial price and gradually reducing it over time?
What is the primary objective of markdown pricing in fashion retail?
Which pricing strategy involves setting a price based on the perceived value of the product to the customer?
What is the impact of markdowns on the profitability of a fashion retailer?
Which markdown strategy involves offering a percentage discount off the original price?
What is the primary goal of a flash sale in fashion retail?
Which pricing strategy involves setting a price that is lower than the prevailing market price?
What is the impact of markdowns on the sales volume of a fashion retailer?
Which markdown strategy involves offering a fixed amount of discount, regardless of the original price?
What is the primary objective of a clearance sale in fashion retail?
Which pricing strategy involves setting a price based on the cost of production plus a markup?
What is the impact of markdowns on the brand image of a fashion retailer?
Which markdown strategy involves bundling multiple products together at a discounted price?
What is the primary objective of a bundle pricing strategy in fashion retail?
Which pricing strategy involves setting a price that is higher than the prevailing market price?