Price Discrimination Is

question 136

Multiple Choice

Price discrimination is:

• A)the practice of charging a very low price for a product with the intent of driving competitors out of business.
• B)the practice of charging different prices to different buyers for goods of like grade and quality.
• C)an arrangement a manufacturer makes with a reseller to handle only its products and not those of a competitor.
• D)a conspiracy among firms to set prices for a product or service.

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Definitions:

Focused Cost Leadership

A strategy where a company aims to be the lowest cost producer in a particular niche or segment.

Market Segment

A subgroup of people or organizations sharing one or more characteristics that cause them to have similar product and service needs.

Operations

The day-to-day activities involved in running a business, focusing on the efficient and effective production and delivery of goods and services.

Strategic Leadership

It's an approach to management used by leaders to influence the direction towards achievement of high-level goals.