GK
MARKETING 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: -1. Competition-Based Pricing Strategy. Competition-based pricing is also known as competitive pricing or competitor-based pricing. This pricing strategy focuses on the existing market rate (or going rate) for a company’s product or service; it doesn’t take into account the cost of their product or consumer demand.
Detailed explanation-2: -Which of the following is true about competitive pricing? It is at a medium level, somewhere in between extremes, using competitors’ prices as a starting point, and adjusting from there.
Detailed explanation-3: -Charm pricing is also known as psychological pricing. It’s the belief that a price can have a psychological impact. Retailers can then use that psychological influence to sway customers to buy their products or perceive them a certain way.
Detailed explanation-4: -Target return pricing 4. This pricing strategy involves reducing the number of price points on merchandise to as little as possible, in extreme cases to only one price point. a.