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प्रश्न
Under this Pricing Strategy, a business firm adjusts its own price policy in accordance with general pricing structure in the industry.
विकल्प
Skimming pricing
Parity pricing
Cost plus pricing
Penetrating pricing
उत्तर
Parity pricing
Explanation:
Parity pricing, also known as going rate pricing or competitive pricing, involves setting prices based on competitors' prices. In this strategy, a business firm aligns its pricing policy with the industry's general pricing structure to remain competitive and avoid price wars.
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संबंधित प्रश्न
Explain the below mentioned pricing strategy:
Skimming pricing strategy
It is also known as 'going rate pricing' or competition based pricing.
Introducing a product at low price and increasing the price once the brand succeeds is known as ______ pricing.
______ price refers to the high initial price charged when a new product is introduced in the market.
Parity pricing is not relevant under the present marketing conditions. Justify either for or against by giving two reasons.
What is parity pricing?
What is skimming pricing?
Skimming pricing policy is ideal for introducing a product in the FMCG sector. Justify for or against.
In a competitive market, parity pricing is the appropriate strategy. Justify either for or against.
| 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.
