When Dominant Enterprises in an Industry Exercise a Degree of Pricing

question 62

Multiple Choice

When dominant enterprises in an industry exercise a degree of pricing power,setting different prices in different markets to reflect varying demand conditions,it is referred to as

• A)price discrimination.
• B)premium pricing.
• C)psychological pricing.
• D)price skimming.
• E)price leadership.

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Definitions:

Concept Test

A research technique used to evaluate consumer response to a product idea before it is marketed, by presenting the concept in a detailed, simulated market scenario.

Marketing Professionals

Individuals who specialize in the study, design, and management of marketing processes and strategies.

Potential Product

A concept in marketing that refers to all the possible enhancements and improvements that a product might undergo to meet future needs or untapped market segments.

Market Testing

The process of evaluating the viability of a new product or service through controlled customer exposure, gathering feedback before a full-scale launch.