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Which of the following is not one of the general pricing approaches?
Answer & Solution
Correct Answer:
Option
C
In marketing, the general pricing approaches include: Competition-based, Cost-based, and Penetration pricing.
Competition-based pricing involves setting prices based on what competitors are charging.
Cost-based pricing is determined by adding a markup to the cost of producing a product.
Penetration pricing is a strategy where a product is introduced at a low price to gain market share.
Relationship pricing is not typically considered a general pricing approach, making Option C the correct answer.
Competition-based pricing involves setting prices based on what competitors are charging.
Cost-based pricing is determined by adding a markup to the cost of producing a product.
Penetration pricing is a strategy where a product is introduced at a low price to gain market share.
Relationship pricing is not typically considered a general pricing approach, making Option C the correct answer.
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