In Recent Years,companies Have Adopted ________,Trying to Win Loyal Customers

question 48

Multiple Choice

In recent years,companies have adopted ________,trying to win loyal customers by charging a fairly low price for a high-quality offering.

• A) EDLP
• B) high-low pricing
• C) value pricing
• D) everyday low pricing
• E) none of the above

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Definitions:

Psychographic Segmentation

A marketing technique involving division of a market into segments based on consumer personality traits, values, attitudes, interests, or lifestyles.

Demographics

Statistical data relating to the population and the different groups within it, such as age, gender, income, and education.

Consumer Behavior

The study of individuals, groups, or organizations and the processes they use to select, secure, use, and dispose of products, services, experiences, or ideas to satisfy needs and the impacts that these processes have on the consumer and society.

Product Life Cycle

Defines the stages that new products move through as they enter, get established in, and ultimately leave the marketplace and thereby offers marketers a starting point for their strategy planning.