Prices are related to the other elements of the marketing mix and to virtually all marketing outcomes. If a firm has a strong desire to increase its market share, it is likely it will:
A) decrease the price of the product.
B) increase the price of the product.
C) use a prestige pricing approach.
D) match the competitors price.

Question

Quizplus · Accepted Answer

To increase market share, a firm might decrease the price of its product to attract more customers, making its offerings more appealing compared to competitors. This strategy can lead to higher sales volumes, thereby increasing market share.

Prices Are Related to the Other Elements of the Marketing