A step out is a pricing practice in which a firm:
A)maintains a high price for a product throughout its life cycle.
B)offers an extremely low price on a single product purchase to reach the mass market quickly and capture a large market share.
C)markets a product at a low price compared to competitive offerings to secure market acceptance.
D)raises the price of a product and then waits to see if others follow suit.

Question

Quizplus · Accepted Answer

A step out is a pricing strategy where a firm raises the price of a product to see if competitors will follow, testing the market's reaction to higher prices.

A Step Out Is a Pricing Practice in Which a Firm