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Question
What pricing strategy will be used to launch shampoo?
Solution
Shampoo: Penetrating pricing
This strategy involves setting a low price at the initial stage to quickly popularize the brand and maximize market share. The manufacturer aims to sell to a broad audience. This approach leads to a high sales volume during the early stages of the product's life cycle.
RELATED QUESTIONS
Which pricing strategy involves charging according to their competitors?
Explain the below mentioned pricing strategy:
Skimming pricing strategy
The strategy of introducing new product in existing market is classified as ______.
Under this Pricing Strategy, a business firm adjusts its own price policy in accordance with general pricing structure in the industry.
Factors which do not influence price determination is ______.
The pricing strategy involves charging according to what competitors are charging ______.
Skimming pricing policy is ideal for introducing a product in the FMCG sector. Justify for or against.
What is penetrating pricing?
Identify two desirable conditions under penetrating pricing.
What pricing strategy will be used to launch a high-end smartphone?
