ENTREPRENEURIAL MARKETING
PRICING STRATEGIES
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Mobile Express charges a fixed rate for cell phone minutes, text messages, and data packages. If you exceed your allotted minutes, Mobile Express will include an additional charge for the extra minutes used on your bill. What type of pricing strategy is Mobile Express using?
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product line pricing
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product bundling pricing
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two-part pricing
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captive pricing
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Explanation:
Detailed explanation-1: -Competition-Based Pricing Example An example of competition-based pricing includes analyzing competitors’ prices and then setting a similar but slightly lower price for one’s products. Sellers do this by keeping track of rivals’ prices through market research.
Detailed explanation-2: -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.
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