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.

Related MCQs

• ______________ pricing means assigning a low price tag for a product and providing the benefits of low-cost mass production to the customers.
• Introducing a product at low price and increasing the price once the brand succeeds is known as ______________ Pricing.
• The three major considerations in price setting are: costs set the floor price; ______________; and customers' assessment of unique features establishes the price ceiling.
• Serving a small market not served by competitors is known as ______________
• The set of all the products a firm made available to consumers buy is called.
• ______________ is a low cost communication tool that can be easily tested, refined and rolled'out.
• Direct marketing is found more suitable to which of the following products?
• Executives often complain that pricing is a big headach Common mistakes include: price is not revised often enough to capitalize on market changes; price is set ______________ of the rest of the marketing mix rather than an intrinsic element of a market-positioning strategy.
• Products seen as only suitable in one single market
• An organisation directs its marketing efforts at two or more segments by developing a marketing mix for each segment.