Answer:
Penetration pricing
Explanation:
Penetration pricing is a marketing strategy that is used to draw customers to a particular good or service by lowering its price. The reasons why companies use penetration pricing is to introduce a new product into the market by creating awareness and also to draw customers away from competitors that have their prices on the high side.
So, if we observe a decrease in price of a good & an increase in the amount of the good bought & sold this could be explained by <u>penetration pricing</u>.
The goal of this is to draw attraction from customers to the product and also keep them once the prices have been returned to their normal levels.
Sticky prices is a term used to describe the price of a good or service that is not easily impacted to a change in the economy and their conditions. They stay relative to the price of the item and are used in short-term supply.
Prices can not easily change and implement within a market because you need to consider the economic changes/conditions and the consumer. How it will change things for the market and the consumer are not usually predictable until the price changes. Companies are also not able to judge how competition will fair when there is a change in price.
The two types of shopping products are homogenous and heterogenous products. Hence the correct answer choice is option (d).
<h3>Enlist the features of a homogenous product.</h3>
Following are the features of a homogenous product :
- Market Structure: A crucial characteristic of a perfectly competitive market is homogeneous products. A market structure known as perfect competition is one that has numerous customers and sellers, homogeneous products, and no entry obstacles. Theoretically, homogeneous commodities cannot be distinguished from one another in a market with perfect competition.
- Price Determination -A homogenous product's pricing is the deciding factor in which one product should be chosen over another. When a customer is in front of a shelf filled with similar goods, they are searching for the one with the best deal.
- Consumer Loyalty: Referring to customers that favour a product brand, marketing strategy, or the company's ideals, consumer loyalty is important for products that are not uniform in nature. When a product, like laundry detergent or dish soap, is a recurring necessity, consumer loyalty may apply to homogeneous commodities. A consumer will frequently remain loyal to a homogeneous product in the future if they originally buy it based solely on pricing and are happy with it.
To know more about, perfectly competitive market, visit :
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The complete question is mentioned below :
The two types of shopping products are:
a. unsought and convenience.
b. generic and family.
c. exclusive and intensive.
d. heterogeneous and homogeneous.
e. consumer and business.
I believe the correct answer is B
Is this is japanese or what