The process of adding a higher priced prestigious, product to the existing line of lower priced products is known as ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐.

Related MCQs

• When a new product arrives in the market with higher quality, higher value and new features better than its competitors. Such products are known as
• In market-penetration pricing, the company’s objective is to ________, believing that higher sales volume will lead to lower unit costs and higher long-run profits.
• In which stage of the product life cycle is advertising and promotion aimed at retaining existing customers and persuading customers to switch from competitor products?
• The process of finding and creating new uses or satisfactions for an existing product is known as ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐.
• ----------- means placement of company product or products in the minds of target consumers relative to the competitive products.
• The product mix pricing technique through which companies develop product lines for pricing instead of single products is classified as
• The ________ of a product mix refers to how many variants are offered of each product in the line.
• The total length of each product line is divided by number of product lines which is carried by the company to calculate
• The strategy of introducing new product in existing market is classified as
• The firm uses any existing brand to introduce in market as a new product brand is classified as