When Setting a Price Level Policy, a Good Marketing Manager

question 59

Multiple Choice

When setting a price level policy, a good marketing manager knows that:

• A) introductory price dealing usually does not increase sales.
• B) a penetration price makes the most sense when there is a large "elite" market.
• C) a "skimming" price may lead to low profits if demand is very elastic.
• D) it's easy to raise prices if the initial price is too low.
• E) None of these alternatives is correct.

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Definitions:

Action Orientation

A proactive attitude that focuses on taking immediate and decisive steps towards achieving goals.

Serial Entrepreneurs

Individuals who continuously come up with new ideas and start new businesses, often moving from one venture to the next, typically experiencing various levels of success.

Need for Achievement

A psychological drive in individuals that pushes them to succeed and excel in tasks.

Self-Employed

Individuals who work for themselves, either running their own business or freelance, without being employed by another organization.