What pricing strategy would be most effective for a business that wants to create an image of excellentquality and prestige?*2 pointsA. High or SkimmingB. WholesaleC. ModerateD. DiscountE. Low or Penetration
Question
What pricing strategy would be most effective for a business that wants to create an image of excellentquality and prestige?*2 pointsA. High or SkimmingB. WholesaleC. ModerateD. DiscountE. Low or Penetration
Solution
The most effective pricing strategy for a business that wants to create an image of excellent quality and prestige would be A. High or Skimming. This strategy involves setting prices higher than the competition. It is often used by businesses that have a unique product or service where the value is perceived to be high, and the business is the only source for such a product or service. This strategy helps to create an image of exclusivity and high quality.
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Which of the following pricing technique is used by a business, to foster a high end image for its products and services? A. Odd even pricing B. Low pricing C. Prestige pricing D. Going rate pricing
Pricing strategies
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