When a firm sets a very low price for one or more of its products with a view to drive its competitors out of market is known as ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐.

Related MCQs

• When a firm sets a very low price for one or more of its products with the intention of driving its competitors out of business.
• A firm that bases its price on how it thinks the competitors will price, rather than on its own costs or demand, in order to win a contract is most likely using
• 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
• Marketing decision makers in a firm must constantly monitor competitors' activities-their products, prices, distribution, and promotional efforts-because
• A ____________ policy means that a firm sets one price for all buyers in a given product or service line.
• Serving a small market not served by competitors is known as………….
• Introducing a product at low price and increasing the price once the brand succeeds is known as …………. Pricing.
• The process of setting a low initial price for attracting a large number of buyers quickly to cover a large market share is known as
• When initiating price changes the company must anticipate possible reactions from both buyers and competitors.
• ……………………pricing means assigning a low price tag for a product and providing the benefits of low-cost mass production to the customers.