ENTREPRENEURIAL MARKETING
PRICING STRATEGIES
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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product bundle pricing
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optional pricing
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by-product pricing
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None of the above
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Detailed explanation-1: -Optional product pricing takes into account optional or accessory products along with the main product. Captive product pricing sets prices of products that must be used along with the main product. By-product pricing sets a price for by-products in order to make the main product’s price more competitive.
Detailed explanation-2: -The definition of captive product pricing is the pricing of products that have both a main product and several secondary or accessory products that are needed for the main product to offer full value.
Detailed explanation-3: -The 2 factors of optional product pricing In order for optional product pricing to be a viable method for your business, you need to have at least two products; one will function as the main product and the other as an accessory or complement to the basic product.