A service business may use which of the following types of pricing strategies?
A) Competition
B) Penetration
C) Personalized
D) All of the above
E) None of the above

Question

Quizplus · Accepted Answer

A service business may use different types of pricing strategies based on their objectives and target market. 
- Competition pricing strategy involves setting the price at par with the existing competitors or slightly lower to gain a competitive advantage. 
- Penetration pricing strategy involves setting a low price to attract a large customer base at the beginning, and then raising the price slowly as the business establishes its brand image. 
- Personalized pricing strategy involves offering different prices to different customers based on their purchase behavior, demographics, and other factors. 
Therefore, a service business may use any or all of these pricing strategies depending on its unique situation.

A Service Business May Use Which of the Following Types