This is defined as a method of pricing where the enterprise determines the pricing according to the consumers’ desires.*1 pointcost-plus pricingdemand pricingmark-up pricingcompetitive pricing

This is a pricing strategy in which different prices are charged in different markets, reflecting differences in consumer purchase power, distribution costs, tax systems, or other market traits.Group of answer choicesDynamic incremental pricingAggressive export pricingPenetration pricingLocal pricing

Define the term ‘cost-plus pricing’.

This is a pricing strategy that prices products below market price to penetrate new marketsGroup of answer choicesPenetration pricingDynamic incremental pricingLocal pricingAggressive export pricing

This is a pricing strategy in which a product is priced above that of competitors’ products, when competition is minimal, to quickly recoup investments.Group of answer choicesAggressive export pricingSkimmingDynamic incremental pricingPenetration pricing

Fill in the Blank QuestionFill in the blank question. pricing involves setting a high price so that quality- or status-conscious consumers will be attracted to the product and buy it.