Companies facing the challenge of setting prices for the first time can choose between two broad strategies:

2 answers
Question:

Companies facing the challenge of setting prices for the first time can choose between two broad strategies: market-penetration pricing and . market-level pricing market-competitive pricing market-skimming pricing market-price lining market-price filling

Answers

The correct answer is letter "C": market-skimming pricing.

Explanation:

A product price can be introduced using a market penetration strategy and market-skimming pricing. Market penetration pricing unveils a new product or service to draw buyers away from rivals at an initially low price. Market-skimming pricing is a technique that unveils a product that consumers can pay for it at the highest price. It helps to produce significant profits that will help a business recover production costs quickly.

The correct answers are the following; marketing penetration pricing and as well as market skimming pricing.

Market penetration pricing – a pricing strategy by which the price for a product is at the lowest

Market skimming pricing – it is a product pricing strategy by which the firm is likely to charge an initial price that is higher to the customers.

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