Rob is opening a carpet business - a highly competitive business with several existing companies. He plans on sending out some direct mail advertising with the objective of getting people to try his service and build a customer base. What pricing strategy would you advise him to use?
2) Cost Plus
5) Everyday low pricing
Pricing strategy refers to the ways to find a competitive price of a service or product. It includes the four P's of management product, price, place, and promotion, competition, market demand, etc.
Answer and Explanation:
Penetration strategy refers to a pricing strategy which is adopted by a business in order to attract more and more customers to a new service or a...
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fromChapter 11 / Lesson 10
When a company makes a change in pricing, it is usually in response to inflation or recession. These two tactics are explained to better understand the intricacies involved in devising and implementing a cost strategy.