BUISENESS MANAGEMENT
MARKETING
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
Which of the following is not an objective of pricing strategy?
|
|
Increase Sales
|
|
|
Maximize Profit
|
|
|
Discourage Competition
|
|
|
Discourage Customers
|
Explanation:
Detailed explanation-1: -Hence, the correct answer is-Expansion of business is not an objective of pricing.
Detailed explanation-2: -Five main objectives of pricing are: (i) Achieving a Target Return on Investments (ii) Price Stability (iii) Achieving Market Share (iv) Prevention of Competition and (v) Increased Profits! Before determining the price of the product, targets of pricing should be clearly stated.
Detailed explanation-3: -Premium pricing is not a market-based pricing method. This pricing strategy involves setting the price of a product higher than similar products.
There is 1 question to complete.