A Telecommunications Firm Is Working on the Next Generation of Switching

question 55

Multiple Choice

A telecommunications firm is working on the next generation of switching equipment that allows calls to be digitally transmitted from sender to receiver. If the new product will be sold to existing customers, the firm is pursuing a strategy of

• A) product proliferation
• B) market penetration.
• C) product development
• D) market signaling.
• E) market development.

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Definitions:

Demand-oriented

A pricing strategy where prices are set based on the perceived value to the customer or demand for the product, rather than on the cost of the product or market competition.

Pricing Approach

Strategies and methodologies used by companies to set the selling price of their products or services, taking into account costs, market demand, competition, and profit margins.

Price-setting Process

The method by which a company determines the selling price of its products or services, considering costs, demand, competition, and profitability.

Pricing Strategies

Plans or methods employed by businesses to set, adjust, and present the prices of their products effectively to enhance sales and profitability.