GK
BUSINESS MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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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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Detailed explanation-1: -Premium pricing: high price is used as a defining criterion. Such pricing strategies work in segments and industries where a strong competitive advantage exists for the company.
Detailed explanation-2: -Price skimming is a product pricing strategy by which a firm charges the highest initial price that customers will pay and then lowers it over time.
Detailed explanation-3: -In “cost-plus pricing, ‘’ businesses can charge a higher price for their goods or services than they pay to create or deliver them. Profit margins can vary from company to company based on production cost.
Detailed explanation-4: -Types of Price Discrimination These degrees of price discrimination are also known as personalized pricing (1st-degree pricing), product versioning or menu pricing (2nd-degree pricing), and group pricing (3rd-degree pricing).