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प्रश्न
It is also known as 'going rate pricing' or competition based pricing.
विकल्प
Skimming
Parity pricing
Penetration pricing
Cost plus pricing
उत्तर
Parity pricing
Explanation:
Under this pricing strategy, a business firm adjusts its own price policy to the general pricing structure in the industry. It involves charging according to what competitors are charging. Many companies in an industry follow the price level set by the market leader. This strategy is also known as 'going rate pricing' or competition-based pricing.
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संबंधित प्रश्न
Which pricing strategy involves charging according to their competitors?
Explain the below mentioned pricing strategy:
Skimming pricing strategy
Introducing a product at low price and increasing the price once the brand succeeds is known as ______ pricing.
______ is the most common method used for pricing.
______ determines the sales volume and the profit margins.
In a competitive market, parity pricing is the appropriate strategy. Justify either for or against.
What is Cost plus pricing policy?
What is penetrating pricing?
| Evergreen Cosmetics is planning to launch a new range of 'anti-wrinkle creams' in the Indian market. They conducted a market survey and found potential competition from Remain Young. Since they are targeting the higher strata of society, the cream is being priced much higher than their competitors. They plan to use the television as a media to advertise this anti-wrinkle cream as opposed to print media which is largely used by them for their other products. Officials at Evergreen Cosmetics feel that with the correct style of promotion, they could easily be successful in the market. |
- Identify and explain the pricing strategy that is being used by Evergreen Cosmetics.
- Describe any two qualities that a salesman selling this product should possess.
- Explain any two tools of sales promotion that can be used here.
What pricing strategy will be used to launch a high-end smartphone?
