Loss leader pricing is a pricing strategy that involves fixing the price of a product well below its cost or market price to attract a new set of customers. In most cases, the "loss" in such products is shifted to another product to cushion its effect. The grocery store is selling milk at $1.50 lower than its market cost by employing loss leader pricing strategy to its business model.
Loss leader pricing can be defined as a way companies or business owners sell their good at low cost or price in other to attract customers.
LOSS LEADER PRICING can also be seen as a pricing strategy in which goods are selected and low price is tag on them rather than the usual price in order to draw the attention of the customers to the goods. This strategy often lead to increase in sales which in turn leads to high profits making by the company's or business owners and this can also happen when a company is trying to make up for the losses on the selected products with additional purchases of profitable goods.
Therefore LOSS LEADER PRICING can be seen as a pricing strategy method which companies can use by selecting one or more retail products which are to be sold below cost in order to attract customers.
Thus: according to the information given the mik pricing is an examples of LOSS- LEADER PRICING
Marketing seems to be focused on thought about either the market regarding consumer expectations as well as satisfaction with them.
It is different from selling, although selling is concerned with either the methods or strategies of convincing investors to exchange some currency for a certain commodity.
Some other options in question are not connected to something like the given scenario. And the above will be a good alternative.
