ENTREPRENEURIAL MARKETING
MARKETING MIX
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which of the following is a pricing strategy that would only be used for a short time period?
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Cost-plus pricing
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Competitor pricing
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Promotional pricing
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None of the above
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Explanation:
Detailed explanation-1: -For a very short time-sometimes just hours-brands will slash their prices to unload excess inventory, acquire customers, or lift profits.
Detailed explanation-2: -Promotional pricing is a pricing method where a company temporarily reduces the price of a product or service in the interest of quickly driving sales. In many cases, those deals and discounts are supported by dedicated promotional materials or marketing campaigns.
Detailed explanation-3: -Discount and allowance pricing is a price adjustment strategy where a company reduces prices to reward customer responses such as volume purchases, paying early, or promoting the product.
There is 1 question to complete.