What is everyday low pricing? A) With this strategy, a company starts

QUESTION

What is everyday low pricing?

A) With this strategy, a company starts with the price it wants to charge, figures out the profit margin it wants, then determines what the costs must be to produce the product to meet the desired price and profit goals.
B) With this approach, price is determined in relation to rivals, factoring in other considerations such as market dominance, number of competitors, and customer loyalty.
C) This is the technique of pricing products or services in odd rather than even amounts to make products seem less expensive.
D) This is the practice of pricing two or more products together as a unit.
E) This is the strategy of continuously setting prices lower than those of competitors and then not doing any other price-cutting tactics, such as special sales, rebates, and cents-off coupons.

ANSWER

Answer: E
Explanation: E) Everyday low pricing is a strategy of continuously setting prices lower than those of competitors and then not doing any other price-cutting tactics, such as special sales, rebates, and cents-off coupons.