When Using a Price Lining Strategy,a Marketer Will

question 413

Multiple Choice

When 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 price slightly higher than necessary to protect against losses resulting from adverse environmental forces.
• 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 as the benchmark.

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Definitions:

Technological Change

Innovations and advancements in technology that improve processes, products, or services.

Internal

Pertaining to or situated within the interior of something, often referring to processes or affairs happening within an organization or entity.

Profit Motive

The intent to achieve financial gain, which drives individuals and companies to engage in business activities.

Government Subsidies

Financial support provided by the government to firms, individuals, or other governmental bodies, often aimed at promoting economic and social policies.