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Question
Which pricing strategy involves charging according to their competitors?
Options
Penetrating pricing
Cost Plus pricing
Skimming pricing
Parity pricing
Solution
Parity pricing
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RELATED QUESTIONS
The strategy of introducing new product in existing market is classified as ______.
Markup pricing is also called as ______.
Introducing a product at low price and increasing the price once the brand succeeds is known as ______ pricing.
Setting a price below than that of the competition is called ______.
Factors which do not influence price determination is ______.
Parity pricing is not relevant under the present marketing conditions. Justify either for or against by giving two reasons.
Give one difference between skimming pricing and penetrating pricing.
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.
"Penetrating pricing leads to setting a high initial price". Comment
