MANAGEMENT

Detailed explanation-1: -Extreme value retailers are small, full-line discount stores that offer a limited merchandise assortment at very low prices.

Detailed explanation-2: -Everyday low pricing: Charges a continuously low price for a product over a long-time horizon. High-low pricing: Charges a high price for a product and later sells it at a low price through sale events or promotions.

Detailed explanation-3: -A pricing strategy in which a company offers a relatively low price to stimulate demand and gain market share.

Detailed explanation-4: -Penetration pricing is the short-term strategy to lure customers from competitors by offering lower prices. Though these prices may not be profitable in the long-term, a company’s hope is they can convert the customer into a long-term relationship that ultimately yields a profit per consumer.