Advertisements
Advertisements
प्रश्न
Under which of the following situations is a company not likely to fix a lower price for its product?
पर्याय
When the competition has introduced a substitute product.
If the demand for a product is inelastic.
When the company wants to attain market share leadership.
When the demand for the product is low.
Advertisements
उत्तर
If the demand for a product is inelastic.
Explanation:
If demand is inelastic, consumers are not sensitive to price changes, so there’s no need to set a lower price. Thus, the company is not likely to fix a lower price in this case.
APPEARS IN
संबंधित प्रश्न
What is meant by the term place in the marketing mix?
Explain any four points of difference between 'Marketing' and 'Selling'.
Explain the following term/concept.
Product
Explain the following term/concept.
Price
Explain 3Ps in the marketing of services.
Harshit is planning a start-up venture for offering mobile pet care services at the door step. He has decided to charge 1000 for a heated hydrobath and blow dry of a pet and 500 for shampoo and conditioning. Identify the elements of the marketing mix which is not being described in the above case.
Which of the following is true regarding Promotion?
What is Marketing Mix?
"It is a set-off tangible and physical attributes such as material colour, design, size, weight, etc., assembled in an identifiable form better seller offers to customers for sale." What is it?
Define the term ‘marketing mix’.
