JAMB Commerce 2015 Objective — Question 49
Question 49 of 50 from the Joint Admissions and Matriculation Board (JAMB) Commerce 2015 Objective paper, with the correct answer and a full explanation.
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Which of the following is used as a pricing policy?
- A. packaging
- B. market skimmingCorrect
- C. labeling
- D. branding
Explanation
Market skimming is a pricing approach in which the producer sets a high introductory price to attract buyers with a strong desire for the product, then gradually reduces the price to attract subsequent layers of the market.
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