Post Utme Summit University 2024 Commerce Question 8

Practice objective / multiple choice question 8 from the 2024 Post Utme Summit University Commerce examination.

Post Utme Summit University 2024 Commerce Objective / Multiple Choice
Question 8 POST_UTME_SUMMIT_UNIVERSITY • 2024 • COMMERCE • objective

A company is considering two different marketing strategies: a high-low strategy and a penetration pricing strategy. Which of the following statements best describes the high-low strategy?

Answer Options

A. A high-low strategy involves setting a high price for a product in order to attract a small number of customers who are willing to pay a premium.
Correct Answer B. A high-low strategy involves setting a low price for a product in order to attract a large number of customers who are price-sensitive.
C. A high-low strategy involves setting a high price for a product in order to attract a large number of customers who are willing to pay a premium.
D. A high-low strategy involves setting a low price for a product in order to attract a small number of customers who are price-sensitive.
Correct Answer
B
Correct Option:
A high-low strategy involves setting a low price for a product in order to attract a large number of customers who are price-sensitive.

About This Question

This is Post Utme Summit University 2024 Commerce Question 8. It is one of the objective questions from the 2024 Post Utme Summit University Commerce examination.

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