Companies adding lower prices products to a product line to add sales to the line and attract a broader market. What kind of product mix modification is this?

Related MCQs

• Which business discipline is focused on the practical application of sales techniques and the management of a firm's sales operations?
• When a product has long life cycle , it has mass market, entry of rivals in to market is easy and demand is elastic. Which pricing policy can be adopted?
• Charging very low price at the introductory stage of a new product and raising prices gradually.
• All companies charge the same price and smaller players follow the price set by the market players. Which is this method?
• Market where shares, debentures, bonds etc…of companies are bought and sold :
• What is involved in Distribution mix?
• What all are the elements included in promotion mix ?
• An organization directs its marketing efforts at two or more segments by developing a marketing mix for each segment. Which is this approach?
• Which among is a suitable pricing strategy of Charging different prices to different customer groups?
• What happens when a firm introduces new product to a market in which it is established?