The correct question should be:
Companies facing the challenge of setting prices for the first time can choose between two board strategies; marketing-penetration pricing and _______ pricing.
Answer: Market Skimming pricing.
Explanation:
A company with a product new to the market can either choose to use the market penetration pricing or the market skimming pricing.
The market penetration pricing works best in a market with a lot of competition. The penetration pricing is a kind of pricing a company uses where the price of it's Products are set to be very low to attract price-sensitive consumers and still make profit.
The market skimming pricing on the other hand is a price setting method where a high entry price is set for a new product and then subsequently reduced with increase in market competition.
Primary research To get a complete picture of your target market,
Answer:
Objective Theory
Explanation:
The Objective theory states that the intent to form a contract will be judged by outward objective facts such as the words and actions of the party instead of the secret, subjective intentions. This theory replaced the Subjective theory in the late nineteenth century. The former theory was of the opinion that the meeting of minds, which translates to the unexpressed intentions of the party would form a basis for interpreting the intent to form a contract.
The objective theory is important as it advocates freedom to a fair hearing, freedom of contract, and personal independence or sovereignty.
Answer:
The correct answer is: D. Marketing information system.
Explanation:
Modern marketing requires more dynamic and intelligent information systems every day. The real-time information for decision making every day becomes more relevant. Focusing marketing strategies on the knowledge of customers and markets, requires having antennas placed on the market and multi-source data collection systems that allow anticipating market trends and thus making smarter decisions. Technology, Big Data and artificial intelligence are changing the rules of the Information Systems game.
The Marketing Information System and the digitalization of processes go hand in hand, allowing companies to use technology as a tool for making timely decisions for the market.
Because the manufacturer is also the entity selling the good or service, prices tend to be lower in a direct distribution channel. Indirect channels, on the other hand, generally see higher prices because of the number of intermediaries involved. The more there are, the higher the price.
