ENTREPRENEURIAL MARKETING
MARKETING MIX
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Consideration into what customers are willing to pay is the main focus of Market-Led Pricing Strategies?
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true
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false
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Either A or B
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None of the above
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Explanation:
Detailed explanation-1: -Value-based pricing is a strategy of setting prices primarily based on a consumer’s perceived value of a product or service. Value-based pricing is customer-focused, meaning companies base their pricing on how much the customer believes a product is worth.
Detailed explanation-2: -Five main objectives of pricing are: (i) Achieving a Target Return on Investments (ii) Price Stability (iii) Achieving Market Share (iv) Prevention of Competition and (v) Increased Profits! Before determining the price of the product, targets of pricing should be clearly stated.
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