ENTREPRENEURIAL MARKETING
PRICING STRATEGIES
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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The price of your products helps create your image in the minds of customers. If your prices are too low, customers may consider you products inferior and if your prices are too high, you may turn some customers away.
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True
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False
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Either A or B
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None of the above
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Explanation:
Detailed explanation-1: -Setting prices too low can convey the message to consumers that your product isn’t as good as other similar products on the market. While low prices may not earn you greater profits, the more of a product you sell the more profit you make.
Detailed explanation-2: -Penetration pricing is a marketing strategy used by businesses to attract customers to a new product or service by offering a lower price during its initial offering. The lower price helps a new product or service penetrate the market and attract customers away from competitors.
There is 1 question to complete.