WAEC Marketing 2023 Objective — Question 18
Question 18 of 40 from the West African Examinations Council (WAEC) Marketing 2023 Objective paper, with the correct answer and a full explanation.
Advertisement
Which pricing strategy is adopted by a company that sells its product for #200 when the prevailing market price for same product is #150?
- A. Skimming pricingCorrect
- B. Penetration pricing
- C. Psychological pricing
- D. Competitive pricing
Explanation
Setting a price higher than the prevailing market price (to maximize returns early) is price skimming.
Advertisement
Sign up free to unlock
- Score tracking
- Practice history
- Saved questions
- Progress dashboard
- Personalized sessions
- Weak-topic breakdown
…and/or go further with premium services and No Ads.