When Sports 360,a sports bar in New York,saw yet another sports bar open up across the street,it knew that it would have to lower its price again to stay in business.The city already had too many sports bars,and Sports 360 intended on being one of those left after the inevitable shake out.In this situation,the best pricing strategy for Sports 360 would be:
A) premium pricing.
B) market skimming.
C) survival pricing.
D) a freemium program.

Question

Quizplus · Accepted Answer

In a competitive market where there are already too many sports bars and a new one opening up across the street, the best pricing strategy for Sports 360 would be survival pricing. This means offering lower prices to attract more customers and stay in business. Premium pricing, market skimming, and a freemium program are not suitable in this situation as they do not address the issue of competition and survival.

When Sports 360,a Sports Bar in New York,saw Yet Another