Hoplan, a motel chain, utilizes a pricing strategy of maintaining continuous low prices rather than relying on sales. This strategy is an example of _____ pricing.
A) skimming
B) psychological
C) everyday low
D) penetration

Question

Quizplus · Accepted Answer

The pricing strategy used by Hoplan is everyday low pricing, which involves setting low prices consistently rather than relying on discounts or sales. This strategy is often used by retailers who want to build customer loyalty and be perceived as offering good value. Skimming pricing involves setting high prices for a new or unique product, psychological pricing involves using pricing tactics to influence perception, and penetration pricing involves setting low prices initially to gain market share.

Hoplan, a Motel Chain, Utilizes a Pricing Strategy of Maintaining