- 1 Which of the following is a disadvantage associated with product line pricing?
- 2 Which pricing strategy is devoted to continuous low prices even when competitors are utilizing high low pricing strategies?
- 3 Which pricing strategy is more likely to attract competitors into a market?
- 4 What is product line and example?
- 5 What are the 4 advantages of prices?
- 6 What is a low cost strategy example?
- 7 What are the 5 pricing strategies?
- 8 What is a high-low pricing strategy?
- 9 What are four types of pricing strategies?
- 10 When General Motors introduced the Saturn it priced the SL sports sedan at $2000?
- 11 In which situation skimming price is not suitable?
- 12 What are the 4 product line expansion?
- 13 What is the difference between product line and product mix?
- 14 What is product type example?
Which of the following is a disadvantage associated with product line pricing?
Which of the following is a disadvantage associated with product-line pricing? It does not provide flexibility for making price changes on individual items.
Which pricing strategy is devoted to continuous low prices even when competitors are utilizing high low pricing strategies?
Everyday low pricing is a strategy devoted to continuous low prices as opposed to: A- relying on short-term price-cutting tactics such as cents-off coupons, rebates, and special sales. B- prices that are set on a weekly or monthly basis in reaction to competitors’ actions.
Which pricing strategy is more likely to attract competitors into a market?
Penetration pricing is a strategy used by businesses to attract customers to a new product or service by offering a lower price initially. The lower price helps a new product or service penetrate the market and attract customers away from competitors.
What is product line and example?
A product line refers to a particular good or service that a company makes and markets to customers. A food company may extend a product line by adding various similar or related products (e.g., adding mesquite BBQ flavor to its existing potato chips line), and create a more diversified product family.
What are the 4 advantages of prices?
Terms in this set (5)
- Information. Tells producers how much their product will cost to make.
- Incentives. Encourages producers to supply more prices are high.
- Choice. More competitors means more choices available on the market.
- Efficiency (KEY BENEFIT)
What is a low cost strategy example?
In a low cost strategy, the true winner is the company with the actual lowest cost in the market place. For example, if two companies make essentially identical products that sell at the same price in the market place, the one with the lower costs has the advantage of a higher level of profit per sale.
What are the 5 pricing strategies?
Consider these five common strategies that many new businesses use to attract customers.
- Price skimming. Skimming involves setting high prices when a product is introduced and then gradually lowering the price as more competitors enter the market.
- Market penetration pricing.
- Premium pricing.
- Economy pricing.
- Bundle pricing.
What is a high-low pricing strategy?
Also referred to as “hi-lo” or “skimming” pricing method, high-low pricing is a common retail pricing strategy where a product (or service, in some cases) is introduced at a higher price point, and then gradually discounted and marked down as demand decreases.
What are four types of pricing strategies?
Apart from the four basic pricing strategies — premium, skimming, economy or value and penetration — there can be several other variations on these.
When General Motors introduced the Saturn it priced the SL sports sedan at $2000?
Terms in this set (19) When General Motors introduced the Saturn, it priced the SL sports sedan at $2,000 less than the Toyota Corolla DLX and $1,500 less than comparable Nissan and Honda automobiles.
In which situation skimming price is not suitable?
Price Skimming Limits Price skimming may also not be as effective for any competitor follow-up products. Since the initial market of early adopters has been tapped, other buyers may not purchase a competing product at a higher price without significant product improvements over the original.
What are the 4 product line expansion?
There are four “stages” of the life cycle of a product: introduction, growth, maturity, and decline. The launch is exciting and is often followed by a surge of sales, but at some point, the product will wear itself out.
What is the difference between product line and product mix?
Product Mix vs Product Line A product mix is a group of everything a company sells. However, the product line is a subset of the product mix. A product line refers to a unique product category or product brand a company offers.
What is product type example?
Product types are groups of products that share the same attributes. For example, books are typically distinguished by such attributes as ISBN, author, publisher, cover type, language; apparel can be characterized by brand, season, material, etc.