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Commerce · Q518

Marketing Management

Graduate and Post Graduate · Commerce · question 518

Q518

Which of the following is not one of the general pricing approaches?

A.
Competition-based
B.
Cost-based
C.
Relationship pricing
Answer
D.
Penetration pricing

Answer: Option C

Solution

Answer: Option C
Solution:
In marketing, the general pricing approaches include: Competition-based, Cost-based, and Penetration pricing.

Competition-based pricing involves setting prices based on what competitors are charging.

Cost-based pricing is determined by adding a markup to the cost of producing a product.

Penetration pricing is a strategy where a product is introduced at a low price to gain market share.

Relationship pricing is not typically considered a general pricing approach, making Option C the correct answer.