Post Utme Caleb University 2020 Commerce Question 23

Practice objective / multiple choice question 23 from the 2020 Post Utme Caleb University Commerce examination.

Post Utme Caleb University 2020 Commerce Objective / Multiple Choice
Question 23 POST_UTME_CALEB_UNIVERSITY • 2020 • COMMERCE • objective

A company is considering launching a new product in the Nigerian market. The company has conducted market research and has determined that the demand for the product is elastic. What is the implication of this finding for the company's pricing strategy?

Answer Options

A. The company should set a high price for the product
Correct Answer B. The company should set a low price for the product
C. The company should use a penetration pricing strategy
D. The company should use a skimming pricing strategy
Correct Answer
B
Correct Option:
The company should set a low price for the product

About This Question

This is Post Utme Caleb University 2020 Commerce Question 23. It is one of the objective questions from the 2020 Post Utme Caleb University Commerce examination.

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