ENTREPRENEURIAL MARKETING
PRICING STRATEGIES
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which pricing strategy is been used in the following scenario?Godiva packages their chocolates using an elegant high quality box and gold wrapping paper. Commercials of Godiva include images of couples in elegant clothing and in elegant settings enjoying the elegant chocolate.
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Price Discrimination
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Psychological Pricing
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Value Pricing
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Predatory Pricing/Destroyer
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Explanation:
Detailed explanation-1: -Price Skimming This strategy tends to work best during the introductory phase of products and services. It involves introducing a product to the market at a premium price, then methodically lowering the price over time to attract a larger customer base.
Detailed explanation-2: -Markup pricing or cost-plus pricing is a pricing strategy where the price of a product or service is calculated by adding together the cost of the products and a percentage of it as markup.
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