A marketing research supplier that quotes an unrealistically low price for marketing research,only to raise it,is engaging in _______.

Question

Quizplus · Accepted Answer

Low-ball pricing is a deceptive practice used by some suppliers to attract customers by quoting an unrealistically low price and then raising it later by saying that additional services are needed or that certain costs were not included in the initial quote. This tactic can create dissatisfaction among customers and damage the reputation of the supplier. Price skimming refers to charging a high price initially and then lowering it over time, while price penetration refers to charging a low price initially to gain market share. Price leadership refers to the practice of setting prices in a way that becomes the benchmark for the industry.

A Marketing Research Supplier That Quotes an Unrealistically Low Price