Which of the following process is most accurate?
A)When selecting a strategy for setting an initial price, it doesn't matter which one you use as long as you stick with it.
B)Sometimes pricing strategies overlap and it is wise to consider several strategies before deciding.
C)Demand-oriented pricing approaches must rely more heavily on competitors' process than they do on customer tastes.
D)Skimming prices which is demand-oriented is similar in strategy to loss leader pricing of the competition-oriented strategy.
E)Penetration pricing is the most prevalent pricing strategy for companies trying to meet the goals of a profit-oriented approach.

Question

Quizplus · Accepted Answer

Considering multiple pricing strategies before setting an initial price is the most accurate process because it allows for a more thorough analysis of the market and the competition. Relying solely on one strategy may overlook important factors and lead to suboptimal pricing decisions. Option A is incorrect because sticking with a flawed strategy could lead to missed opportunities or lost sales. Option C is incorrect because demand-oriented pricing should focus on customer preferences rather than competitors' prices. Option D is incorrect because skimming pricing and loss leader pricing have different objectives and target different segments. Option E is incorrect because penetration pricing is just one of several pricing strategies that a profit-oriented company can use.

Which of the Following Process Is Most Accurate