ENTREPRENEURIAL MARKETING
PRICING STRATEGIES
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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cash discount pricing strategy
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quantity discount pricing strategy
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seasonal discount pricing strategy
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None of the above
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Detailed explanation-1: -What are the 4 major pricing strategies? Value-based, competition-based, cost-plus, and dynamic pricing are all models that are used frequently, depending on the industry and business model in question.
Detailed explanation-2: -Discounts are most often used by retail and wholesale companies (e.g., when a store holds a 10% off sale). An example of an allowance would be to offer a 2% discount on a bill paid in 10 days but no discount for paying in 30 days.
Detailed explanation-3: -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. The goal is to rapidly penetrate the market-then eventually raise prices without losing those early adopters.