MKTG 3100 --Study Guide CH 18

MKTG 3100 --Study Guide CH 18 - Study Guide, Chapter 18 _...

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Study Guide, Chapter 18 ____ 1. The price-skimming strategy is sometimes called a "market-plus" approach to pricing because it denotes a high price relative to the prices of competing products. This strategy works best when: e. demand is greater than supply ____ 2. When a firm introduces a new product at a relatively low price because it hopes to reach the mass market, it is following a _____ strategy. The low price is designed to capture a large share of a substantial market and produce lower production costs. a. penetration pricing ____ 3. Penetration pricing means charging a relatively low price for a product as a way to reach the mass market. The low price is designed to capture a large share of a substantial market. Thus, penetration pricing: e. tends to lower production costs ____ 4. A firm charging a price identical to or very close to the competition's price is using a _____ strategy. d. status quo pricing ____ 5. State laws that put a lower limit on wholesale and retail prices are called _____. In these states that have these laws, selling below cost is illegal. a.
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MKTG 3100 --Study Guide CH 18 - Study Guide, Chapter 18 _...

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