What is the fee of registering for the TOEFL iBT Paper Edition?

Applicants who choose to take the TOEFL iBT Paper Edition must pay an amount of INR 16,900 for registering, which is the same for TOEFL iBT.

How many times is the TOEFL iBT Home Edition conducted in a month?

The TOEFL iBT Paper Edition is offered once or twice every month.

As the TOEFL iBT exam is conducted in two sessions, do I have to book two dates or one?

You need to schedule two appointments when you register: one at your neighbourhood testing facility and the other at your house.

In some places, why is the duration of the first session of TOEFL iBT Paper Edition written as three and half hours? What is the actual duration?

The test duration at a centre is three hours. An additional thirty minutes is allocated for test administration tasks, such as admitting examinees, allowing them to input identifying information, and managing test materials.

Are there any special requirements for the Speaking section of the TOEFL iBT Paper Edition?

As the Speaking section is conducted from home, please ensure that you have the required setup for both the equipment and environment before registering. You will get the details from the official website.

Home Practice Tests TOEFL Speaking Practice Tests

Pricing Strategy - TOEFL iBT® Speaking Integrated Practice Questions with Answer Key

Smruti Das

6 min read

Updated On May 30, 2024

"Prepare for the TOEFL Speaking Integrated Section with a practice test on 'Pricing Strategy' and learn the skills to improve your score in the TOEFL exam."

Key Highlights

Pricing Strategy

While the TOEFL Speaking Section tests a candidate's overall English communication skills, the Speaking Integrated Task goes a step further. This specific subsection assesses your ability to not only communicate effectively but also integrate information from both listening and reading passages into a cohesive response.

The Speaking Integrated Task evaluates various aspects of spoken English proficiency, including pronunciation, fluency, vocabulary usage, and overall coherence. To assist you in refining these skills, we offer a dedicated Speaking Integrated practice test focused on the topic "Pricing Strategy."

Let's begin your practice journey with this TOEFL Speaking Integrated Task and help you sharpen your comprehension strategies!

Instructions

The narrator will introduce you to the question format, consisting of reading a short academic passage followed by a related lecture on a similar topic.
Subsequently, you will be asked to respond to a question, integrating information from both the passage and the lecture.
After hearing the question, you will have 20 seconds to prepare your response and 60 seconds to deliver it.
Following the initial instructions, the narrator will prompt you to read the passage on Pricing Strategy within 45 seconds.
The reading passage will be displayed on the screen for your convenience.

Pricing Strategy

Pricing strategies play a crucial role in product introduction. Companies often adopt contrasting approaches to set initial prices. One method involves launching products at high prices to convey quality, appealing to early adopters willing to pay a premium. Conversely, another strategy entails setting initial prices low to penetrate saturated markets, enticing new customers and potentially luring existing ones away from competitors. These strategies, exemplified by the evolution of video recorders and computers, illustrate how pricing impacts consumer behavior and market dynamics.

Directions: After the passage appears, a timer located at the top of your computer screen will commence counting down the time allocated for reading. Once the reading time concludes, the passage will disappear from the screen, replacing an image showing a professor.

Now, listen to this Audio and answer the question that follows.

Audio Transcript

Narrator: Now listen to a segment of a lecture from a business class.

Professor: Today, we'll delve into the intricate process of determining the initial price for products when they're first introduced to the market. There are various approaches, each with distinct advantages. Let's explore two of them.

One approach entails setting the initial price of the product high, followed by a subsequent reduction. Why do companies adopt this strategy? Well, when unveiling a new product, they aim to establish a perception of high quality. Consumers often associate higher prices with superior quality, especially in the early stages of a product's life cycle. Consequently, companies can capitalize on this perception to generate substantial profits from early adopters, who are willing to pay a premium for the latest innovations. Although consumers anticipate eventual price decreases, the allure of acquiring the product sooner outweighs their reluctance to pay more. This approach is particularly effective for cutting-edge, technology-driven products, such as video recorders, cameras, and smartphones, which were initially priced exorbitantly before becoming more accessible over time.

Conversely, another common strategy involves setting an initial low price. This tactic is employed when the market is saturated, and the goal is to undercut competitors. For instance, a fledgling computer manufacturer seeking to gain market share may offer its products at a competitive price point, undercutting established brands. By doing so, the company attracts new consumers who may not have previously considered purchasing a computer and entices existing consumers to switch brands. To offset the lower price, the company often employs tactics such as promoting accessories like printers or software, manufactured by them, to enhance profitability.

Directions: Once the lecture concludes, the picture of the professor will be replaced by a screen instructing you to prepare to answer the question. Subsequently, the following question will appear on the screen and will be read aloud by a narrator.

Question

Utilizing the insights provided in the lecture, elucidate the two pricing strategies mentioned by the professor, incorporating relevant examples to enhance comprehension.

Preparation Time: 20 seconds

Response Time: 60 Seconds

Hold on to those answer sheets! Before you jump into the sample response, make sure to go through our top 7 Tips for TOEFL preparation. They'll help you nail that excellent score!

Answer Key with Explanation for TOEFL Speaking Test - Pricing Strategy

We've provided two sample responses at different proficiency levels (mid-level and high-level). By dissecting the differences, you'll gain valuable insights into the key elements that contribute to achieving a top score on the TOEFL exam.

Listen to the audio recording to hear a mid-level answer to the provided question.

Mid-Level Answer Audio Transcript:

In the lecture, the professor talked, uh, about two pricing strategies that companies use. Umm, one strategy is to start with a high price for a new product, uh, and then lower it later, you know. This, uh, makes people think, er, the product is of high quality, right. So, they're willing to pay, uh, more at first. Like, er, when, er, cellphones first came out, they were really expensive, you know, but then the prices dropped. Another strategy is to start, uh, with a low price, er, to attract customers. This, umm, helps a new company gain, er, market share, and economic growth. They can also offer, umm, like, umm, printers or software to make more money. So, yeah, that's what the professor said. Yeah. (126 words)

Rater’s Comment:

This response provides a basic explanation of the two pricing strategies mentioned in the lecture. However, there are frequent pauses, stuttering, and repetitions, which hinder the flow of the response. Additionally, the explanation lacks depth and specific examples to fully illustrate the concepts, resulting in a mid-level response rather than a high-level one.

Listen to the audio recording to hear a high-level answer to the provided question.

High-Level Answer Audio Transcript:

In the lecture, the professor discusses two distinct pricing strategies used in business: cost-based pricing and value-based pricing. Cost-based pricing involves setting prices based on the production cost of a product or service, ensuring that the company covers expenses and makes a profit. For example, if it costs $10 to produce a widget and the company wants a 20% profit margin, they would set the price at $12. On the other hand, value-based pricing focuses on the perceived value of the product or service to the customer. This strategy allows companies to charge higher prices for products perceived as more valuable, regardless of production costs. An example of value-based pricing is luxury brands charging premium prices for their products based on their brand image and perceived exclusivity. By employing these two pricing strategies, businesses can effectively manage their pricing decisions to maximize profits and satisfy customer needs. (147 words)

Rater’s Comment:

This response demonstrates a high level of comprehension and articulation of the two pricing strategies discussed in the lecture. The candidate effectively explains both cost-based pricing and value-based pricing, providing clear definitions and relevant examples for each. The examples chosen enhance comprehension and illustrate how these strategies are applied in real-world business scenarios. Additionally, the response is well-organized, with a clear introduction, body, and conclusion, making it easy to follow. Overall, this response showcases a strong understanding of the topic and effectively incorporates relevant examples to support the explanation.

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