Examlex
Situations in which the actions of private individuals and firms are insufficient to ensure efficient markets are referred to as:
Penetration Pricing
A marketing strategy where a product is priced lower than the competition to gain market share rapidly, with the potential to increase prices later.
Below-market Pricing
Setting the price of a product or service lower than the prevailing market rates to attract customers or gain market share.
Above-market
Pricing or valuing something higher than the general market rate or expected standard.
Prestige Pricing
A pricing strategy where prices are set higher than competitors to convey an image of exclusivity or superior quality.
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