Ask Question
BusinessBusiness
29 September, 10:33

Select the correct answer. Which pricing strategy do companies often use for luxury products? A. price skimming B. premium pricing C. penetration pricing D. economy pricing

+4
Answers (1)
  1. 29 September, 13:18
    0
    The pricing strategy that companies mostly use for luxury products is "Premium pricing".

    Explanation:

    Premium pricing is a type of pricing strategy by which a high rate is fixed for a high quality product produced by that company. Premium pricing is also known as Prestige pricing. Rate and cost of most of the luxury and high quality product produced by a company will always tend to be higher in order to make sure that the company doesn't face any loss, On the other hand premium pricing is the key strategy for producing higher profit for a company. On the other it increases the brand value of that company and make them look significant based on their quality of product produced.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Select the correct answer. Which pricing strategy do companies often use for luxury products? A. price skimming B. premium pricing C. ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
Distribution Corporation collects 40 % of a month's sales in the month of sale, 55 % in the month following sale, and 5 % in the second month following sale.
Answers (1)
In a closed economy, GDP is $1000, government purchases are $200, and consumption is $700. If the government has a budget surplus of $25, what are investment, taxes, private saving, and national saving?
Answers (1)
In collaborative problem solving, it is important for the initiator to: a. acknowledge the truth of every claim made by the respondent b. avoid drawing evaluative conclusions and attributing motives to the respondent c.
Answers (1)
Firm b pays a constant $9.50 dividend on its stock and will maintain this dividend for the next 11 years and will then cease paying dividends forever.
Answers (1)
Ida studies the economic landscape of bolivia. her research has led her to believe that bolivia will never develop until it abandons its traditional culture and instead focuses on productive investment.
Answers (1)
New Questions in Business
Waupaca Company establishes a $440 petty cash fund on September 9. On September 30, the fund shows $193 in cash along with receipts for the following expenditures: transportation-in, $46; postage expenses, $78; and miscellaneous expenses, $111.
Answers (1)
On September 1, the board of directors of Colorado Outfitters, Inc., declares a stock dividend on its 16,000, $7 par, common shares. The market price of the common stock is $36 on this date.
Answers (1)
Catherine and Jacob have a written contract to buy and sell "100 cases of widgets." The 100 cases is a typo, so after signing the contract they orally agree to modify the contract to "1,000 cases of widgets.
Answers (2)
Is accounts receivable a material component of the company's total current assets?
Answers (1)
Packaging that provides convenience, product quality, protection, or easy storage offers what kind of benefits to customers?
Answers (1)
Home » Business » Select the correct answer. Which pricing strategy do companies often use for luxury products? A. price skimming B. premium pricing C. penetration pricing D. economy pricing
Sign Up Forgot Password?