BUSINESS ADMINISTRATION
BUSINESS ANALYTICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Price Elasticity
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Supply Chain Optimization
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Modern Logistic Service
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Price Level Optimization
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Detailed explanation-1: -Penetration pricing. When you use a penetration pricing strategy, you initially charge low prices-usually lower than your competitors-then make gradual price increases as your market share grows. This helps you launch with a high volume of sales right away.
Detailed explanation-2: -Price optimization is the practice of analyzing customer and market data to find the most optimal price point for a product or service. The goal of price optimization is to determine the best price that will help attract customers, maximize sales, and increase profits.
Detailed explanation-3: -1. Price skimming. Skimming involves setting high prices when a product is introduced and then gradually lowering the price as more competitors enter the market.