Question

Companies facing the challenge of setting prices for the first time can choose between two broad strategies: ________. market-penetration pricing and value-added pricing target cost pricing and competitive pricing value-added pricing and market-level pricing target cost pricing and market-skimming pricing market-penetration pricing and market-skimming pricing

Answer 1

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.