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प्रश्न
The strategy of introducing new product in existing market is classified as ______.
पर्याय
Market development
Market Penetration
Product development
Diversification
उत्तर
The strategy of introducing new product in existing market is classified as Product development.
Explanation:
Product development involves creating new products to serve existing markets. This strategy focuses on innovation and improvement to meet the evolving needs of the current customer base, thereby increasing market share and competitiveness.
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संबंधित प्रश्न
State any two advantages of cost-plus pricing strategy.
______ is the most common method used for pricing.
The pricing strategy involves charging according to what competitors are charging ______.
What is parity pricing?
Give two conditions under which parity pricing is desirable.
Give one difference between skimming pricing and penetrating pricing.
State two disadvantages of Cost plus pricing policy.
Identify two desirable conditions under 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.
"Penetrating pricing leads to setting a high initial price". Comment
