General Studies · Pricing Strategies
Match the following pricing strategy descriptions to their correct technical names: (1) Setting a low initial price to gain market share, then raising it later (2) Launching an innovative product at a high initial price and lowering it over time as competitors enter (3) Pricing a product at the same level as competing market products (4) Setting prices by adding a fixed percentage markup to the production cost
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1(1) Penetration pricing, (2) Price skimming, (3) Going rate pricing, (4) Cost-plus pricing✓
- 2(1) Price skimming, (2) Penetration pricing, (3) Cost-plus pricing, (4) Going rate pricing
- 3(1) Cost-plus pricing, (2) Going rate pricing, (3) Penetration pricing, (4) Price skimming
- 4(1) Going rate pricing, (2) Price skimming, (3) Penetration pricing, (4) Cost-plus pricing
Correct answer
(1) Penetration pricing, (2) Price skimming, (3) Going rate pricing, (4) Cost-plus pricing
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