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WAEC Marketing 2023 Question 18

Question 18

Pricing

Which pricing strategy is adopted by a company that sells its product for N200 when the prevailing market price for same product is N150?

  1. A.Skimming pricing
  2. B.Penetrating pricing
  3. C.Psychological pricing
  4. D.Competitive pricing
Show the answer and explanation

Answer: A (Skimming pricing)

Explanation

Charging more than the market price is skimming; penetration pricing would be below N150.