The Two New-Product Pricing Strategies Most Often Used by Marketers

question 3

Multiple Choice

The two new-product pricing strategies most often used by marketers are:

• A)value pricing and cost-plus pricing
• B)targeted return pricing and profit maximization pricing
• C)psychological pricing and physiological pricing
• D)price skimming and penetration pricing
• E)price shaving and price grooming

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Definitions:

Largest Economy

The country or region with the highest gross domestic product (GDP) and overall economic activity in the world.

European Union

A political and economic union of 27 member states that are located primarily in Europe, aiming to ensure free movement of people, goods, services, and capital within the internal market.

NAFTA

The North American Free Trade Agreement, a treaty among the United States, Canada, and Mexico that aimed to eliminate most tariffs on products traded among these countries, facilitating increased trade and economic integration.

Nonprofit Organizations

Entities that operate for purposes other than making a profit, often focusing on social, educational, charitable, or cultural goals.