You are in browse mode. You must login to use MEMORY

level: Level 1 of PRICE MIX

Questions and Answers List

level questions: Level 1 of PRICE MIX

Question	Answer
-value of product -amount, value or money charge of product or services -sum of values consumers exchange for benefit of having or using the product or services schemes for pharmaceutical products vary from different companies fromgeneric or branded lines or ethical or otc even hospital or groceries -Different major techniques to determine price or pricing objectives in strategies that use by different pharmaceutical indust	PRICE
PRICES IS CALLED BY MANY NAMES IN PHARMACEUTICAL FIELD:	1 Bids or quotations 2 Catalogue or List price 3 Retail price 4 Wholesale price 5 Net price 6 Billing price 7 Rentals/allowance
use in government transaction such as hospital, industrial firms, related health agencies, sometimes hospital will ask several companies or distributor to provide dugs, means compete with prices example is that government transaction in hospital the cheaper price, the one who sold first by hospitals.	Bids or quotations
for drug manufactures, when selling products to trade outlets, list of products offer with corresponding prices intended for different trade outlets or retailer	Catalogue or List price
wholesaler, retailer when selling product to consumers and users, the one commonly paid in drugstore, or as an individual consumer	Retail price
intended for selling in bulk quantities, in reseller price get reseller price, can save if bought in large scale	Wholesale price
1 cost of product inclusive of 12% vat and discount, while 2 __ means opposite of this	1 Net price 2 GROSS PRICE
cost of products inclusive raw materials, labor and overhead, use by manufacturers if buy raw materials for production	Billing price
amount paid by manufacturer to trade outlet monthly for product display either point of sale or preferential shelf spaces for floor displaces, promotion part that every company will rent shelf on specific area of drugstore so be eyelevel by customers, pay manufacturing to drugstore is called __	Rentals/allowance
Who decides for the price of a Drug?	1 marketing pharmacy board 2 therapeutic committee (hospital) 3 drugstore owner 4 hospital chief pharmacist 5 Supply purchasing officer
1  set of pricing objectives and policies, includes drugstore owners, therapeutic committee 2  for product medium and large scale companies or either local or multinational, role is that conduct service in competitor in pricing and do research and recommendation for price proposal that will be approved by higher management	1 • Top management 2 • Product managers
1 monitor and regulate pricing,implemented by various division or sale department, regulate when right time to increase or decrease pricing 2 Sales and marketing managers (field always in trends of serve competitors), product planners, Brandmen (can ask assistance with finance specialists, economic part and accountant to make sure profit or breakeven), finance specialists, and accountants.	1 Pricing department and a price review council 2 Evert influence:
1 role is usually most in contact with market and competition, conduct market intelligence and price administration under responsibility, usually in contact with outside also known price of competitors and know price trends 2 can ask assistance with finance specialists, economic part and accountant to make sure profit or breakeven.	1 Marketing and Sales Manager 2 Product planners, Brandmen
Marketing and Sales Manager • Responsibilities:	– 1.Initiation of price changes – 2. Price determination – 3. Formulation of price policies – 4. Price administration