Which of the following statements regarding pricing is true?
A)Marketers should keep prices low during the introductory stage of the product life cycle.
B)Choosing a price is a one-time decision that is made for each individual product.
C)Pricing strategies should be reevaluated throughout the product life cycle.
D)Initiating price increases is one of the least challenging aspects of pricing.
E)A price-skimming strategy is often used during the growth and maturity stages of the product life cyclE.

Question

Quizplus · Accepted Answer

Pricing strategies should be reevaluated throughout the product life cycle to respond to changes in market demand, competition, and other external factors. Pricing decisions are not one-time decisions but instead require ongoing analysis and adjustments. Also, a price-skimming strategy is often used during the introductory stage of the product life cycle, not the growth and maturity stages. Marketers may increase prices during the growth and maturity stages, but it is not necessarily the easiest aspect of pricing as it requires careful consideration of competitive factors and customer demands.

Which of the Following Statements Regarding Pricing Is True