_____ Pricing Refers to a Pricing Strategy in Which Marketers

question 197

Multiple Choice

_____ pricing refers to a pricing strategy in which marketers offer prices slightly above cost to avoid violating minimum-markup regulations and to earn a minimal return on promotional sales.

• A)Competitive
• B)Leader
• C)Penetration
• D)Psychological

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Definitions:

Principal

The main party to a transaction, who has the primary responsibility, or in an agency relationship, the person for whom the agent acts.

Agent

A person authorized to act on behalf of another (known as the principal) in business transactions or other matters.

Transaction

An agreement or exchange between two or more parties that entails a transfer of goods, services, funds, or any other item of value.

Liable

Legally responsible or obligated to someone else under the law.