When a Marketer of a New Product Uses a Low

question 141

Multiple Choice

When a marketer of a new product uses a low price with a view to attracting as many buyers as possible this is known as:

• A) price penetration.
• B) demand based pricing.
• C) price maximising.
• D) sales maximisation approach to pricing.
• E) price skimming.

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Definitions:

Food

Nutritious substances that organisms consume or absorb in order to maintain life and growth.

Water

A transparent, tasteless, odorless, and nearly colorless chemical substance that is the main constituent of Earth's streams, lakes, and oceans.

Positive Reinforcement

A process in which presenting a stimulus following a behavior increases the likelihood of the behavior occurring again.

Stimulus

A stimulus is anything in the environment that one can respond to.