Using a Price Lining Strategy,a Marketer Will

question 297

Multiple Choice

using a price lining strategy,a marketer will

• A) set the price of a line of products at a number of different specific pricing points.
• B) set the price slightly higher than necessary to protect against losses from environmental factors.
• C) adjust the price of a product so it is "in line" with the price of its largest competitor.
• D) set a low initial price on a new product to appeal immediately to the mass market.
• E) set a market price for product or product class based on a subjective feel for the competitors' price or market price.

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Definitions:

Employer

An individual or organization that hires and pays people to work.

Motivated

Having a strong desire or willingness to act or accomplish something; driven by certain motives or incentives.

Legally Nonexistent Principal

A legal concept referring to a supposed entity or person in a transaction who, in fact, does not have legal existence.

Agent

An individual or entity authorized to act on behalf of another, known as the principal, in business transactions or other matters.