<span>The company is using market-penetration pricing.</span>
It would be 764 have a good day bye
In any field of study, people always start with the ideal scenario in order to eliminate external factors that could only add complexities. Then, when we fully understand the concepts, the calculations gradually evolve to more complex ones to cater to realistic problems.
The basic assumptions that economists do are the following
1. People always have preferences on a set of outcomes and this can be determined through the quantity and quality of their value
2. People always maximize utility or the satisfaction you get out of buying and using the product.
3. Businesses always maximize profit.
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Answer: A - Market development
Explanation: Marketing development is a marketing strategy used by businesses to penetrate new markets with their products.
There are different types of market development and they are:
1. Price: new prices are offered for the product to attract new customers/consumers to the product thereby increasing income.
2. Distribution: The distribution of the product through new channel will aid the development of the product in the new market.
3. Product development: the development of a new product will help penetrate the new market as the product is new and customers might like to try it out.