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CIPS L3M3 Exam - Topic 1 Question 12 Discussion

Posted by Franchesca on May 30, 2024 at 01:40 PM

How many 'Whys'?

Suggested Answer: B

'Market skimming' is the correct answer.

An obvious example of this type of pricing behaviour is in the field of technology, where 'early adopters' will pay significantly more for a product, even although they know the price will drop subsequently. For commercially-used products, sometimes there is an urgent need for an organisa-tion to acquire - a topical example as I write (early 2022) is some new surveillance technology which is in the news and which some governments are desperate to have. In consumer markets, everyone's 'go-to' example is the next generation smartphone, especially Apple products.

Promotional pricing is a short-term price reduction (or 'two-4-one' type offer) to generate sales in the short-term, for example to clear stock, or because of a manufacturer financial support arrangement.

Price discrimination is where the seller sets different prices for different market segments. An ex-ample would be charging different rail fares in UK or mainland Europe based on customer age.

Contribution pricing is based on the notion that sales should cover costs, contributing to the busi-ness, without necessarily making a profit. For example, a large order may be accepted which will keep the workforce employed (retaining their skills as well as having a considerate / ethical outlook) to see the firm through a rough period.


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36 comments · newest first
IR
Ira 11 months ago
Not sure about that, seems off.
SH
Sharika 11 months ago
Totally with you on five!
OR
Orville 12 months ago
Wait, is it really six?
CO
Corrie 12 months ago
Definitely four!
TW
Twana 1 year ago
I think it's five.
EM
Emerson 1 year ago
I thought it was six 'Whys' in some contexts, but that seems too high for the standard method.
LA
Laurene 1 year ago
I feel like it could be three or four, but I can't recall the exact details from the study materials.
KA
Kati 1 year ago
I practiced a similar question last week, and I believe it was four 'Whys' that we discussed.
UL
Ulysses 1 year ago
I think I remember something about the 'Five Whys' technique, but I'm not entirely sure if that's the right answer here.
ER
Erasmo 1 year ago
This seems straightforward, but I want to double-check my work before answering.
NE
Nell 1 year ago
Okay, I think I've got this. Let me walk through the options and see which one makes the most sense.
CA
Cassi 1 year ago
I'm not sure about this one. The wording is a bit ambiguous. I'll have to analyze it closely.
MY
Myong 1 year ago
Hmm, this is an interesting one. I'll need to read the question carefully and think it through step-by-step.
AN
Andra 1 year ago
I'm confident I know the right answer here. The question is clear and the options are straightforward.
LA
Lashon 1 year ago
I'm pretty sure the command to create choropleth maps is geostats, so I'll go with option A.
JE
Jeannetta 1 year ago
This reminds me of similar practice questions we did on management risks. Option A feels like a safe bet, especially with such a risky background.
PH
Phillip 2 years ago
I heard the answer is E) Infinite, because the 'Whys' just keep going on and on forever in our existential questions about life!
CA
Cassie 1 year ago
↳ replying to Phillip
C) Three
AV
Avery 1 year ago
↳ replying to Phillip
B) Four
KA
Kami 1 year ago
↳ replying to Phillip
C) Three
RI
Ria 1 year ago
↳ replying to Phillip
A) Five
SH
Sheron 1 year ago
↳ replying to Phillip
B) Four
SA
Salome 1 year ago
↳ replying to Phillip
A) Five
AI
Aileen 2 years ago
Ha, this question is like a game of 'Where's Waldo' but with 'Whys' instead! I'm feeling lucky, let's go with B) Four.
BR
Brandee 1 year ago
↳ replying to Aileen
User 4: I agree with you, let's go with B) Four.
CL
Claudia 1 year ago
↳ replying to Aileen
User 3: I'll choose D) Six.
SH
Sharita 1 year ago
↳ replying to Aileen
User 2: I'm going with C) Three.
AR
Arthur 1 year ago
↳ replying to Aileen
User 1: I think it's A) Five.
MA
Maryln 2 years ago
Aw, man, I was totally going to pick D) Six, because there are six letters in the word 'Whys'! Dang, should have read the question more carefully.
SU
Sue 2 years ago
Hmm, I think the answer is C) Three. I mean, that's the number of 'Whys' I can see in the question. Easy peasy!
MA
Maybelle 1 year ago
↳ replying to Sue
I think it's D) Six, actually.
CA
Catalina 1 year ago
↳ replying to Sue
I agree, the answer is C) Three.
JA
Jamey 2 years ago
Wait, are we supposed to count the number of 'Whys' in the question itself? That's a bit of a brain teaser!
ST
Starr 2 years ago
I'm not sure, but I think the answer might be A) Five, because asking 'why' five times is a common practice in problem-solving.
BE
Beckie 2 years ago
I agree with Hyun, because in the '5 Whys' technique, we ask 'why' five times to get to the root cause of a problem.
HY
Hyun 2 years ago
I think the answer is C) Three.
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