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What is the primary purpose of pricing tactics?
What is the primary purpose of pricing tactics?
- To set a long-term price strategy
- To focus on all aspects of the five Cs
- To establish a fixed price for all customers
- To respond to competitive threats or calculate final short-term prices (correct)
Which aspect characterizes a broadly accepted pricing tactic?
Which aspect characterizes a broadly accepted pricing tactic?
- Long-term nature
- Competitor-driven
- Short-term nature (correct)
- Unique to each customer
In the context of pricing, what does 'Market Penetration Pricing' generally involve?
In the context of pricing, what does 'Market Penetration Pricing' generally involve?
- Selling products at low prices initially to gain market share (correct)
- Setting high prices to skim off profits gradually
- Lowering prices temporarily due to a competitor's reduction
- Offering discounts to consumers for long-term loyalty
What is the main distinction between consumer pricing tactics and business pricing tactics?
What is the main distinction between consumer pricing tactics and business pricing tactics?
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What defines 'Price Skimming' as a pricing strategy?
What defines 'Price Skimming' as a pricing strategy?
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How do pricing tactics typically interact with competitive threats?
How do pricing tactics typically interact with competitive threats?
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What is the main function of business pricing tactics and discounts?
What is the main function of business pricing tactics and discounts?
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