Match the following:A. New Product Pricing Strategy i. Sealed bid pricingB. Price adjustment strategy ii. Differential PricingC. Product mix pricing strategy iii. Dynamic PricingD. Competition based pricing iv. Captive Product PricingAnswer choicesSelect only one optionA-iii, B-ii, C-iv, D-iA-iii, B-iv, C-i, D-iiA-iii, B-iv, C-ii, D-iA-iii, B-ii, C-i, D-iv
Question
Match the following:A. New Product Pricing Strategy i. Sealed bid pricingB. Price adjustment strategy ii. Differential PricingC. Product mix pricing strategy iii. Dynamic PricingD. Competition based pricing iv. Captive Product PricingAnswer choicesSelect only one optionA-iii, B-ii, C-iv, D-iA-iii, B-iv, C-i, D-iiA-iii, B-iv, C-ii, D-iA-iii, B-ii, C-i, D-iv
Solution
The correct answer is A-iii, B-ii, C-iv, D-i.
Here's why:
A. New Product Pricing Strategy - iii. Dynamic Pricing: Dynamic pricing is often used when introducing new products. The price can be adjusted based on demand, competition, and other market factors.
B. Price adjustment strategy - ii. Differential Pricing: Differential pricing is a price adjustment strategy where different prices are set for different customers or segments.
C. Product mix pricing strategy - iv. Captive Product Pricing: This strategy is used when a company has a product mix. They price the main product low and set high prices for supplies or related items.
D. Competition based pricing - i. Sealed bid pricing: This strategy is often used in competitive situations where companies submit sealed bids and the one with the best price wins.
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