ENTREPRENEURIAL MARKETING
MARKETING MIX
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which combination of price and promotion could be used for a product in decline?
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Raise the price and use an expensive advertising campaign
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Lower the price and tell consumers with an advertisement
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Raise the price and stop all advertising of the product
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Lower price & use promotion to tell people to buy product
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Explanation:
Detailed explanation-1: -Niche Products They are products with lower reach, lower visibility, lower prices, and lower top of mind.
Detailed explanation-2: -Penetration Pricing A low price allows companies to gain market share by attracting new customers who spread the word about the offering and enticing customers away from competitors.
There is 1 question to complete.