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Question : Which of the following is an example of a pricing strategy in the marketing mix?

Option 1: Offering a loyalty program for repeat customers

Option 2: Creating eye-catching packaging for a product

Option 3: Deciding to sell a product through a specific distribution channel

 

Option 4: Setting a high price to position a product as a luxury item.


Team Careers360 11th Jan, 2024
Answer (1)
Team Careers360 25th Jan, 2024

Correct Answer: Setting a high price to position a product as a luxury item.


Solution : Pricing is one of the four elements of the marketing mix, which refers to the amount a customer pays for a product or service. Setting a high price can be a deliberate pricing strategy to position a product as a luxury item, create a sense of exclusivity, or to signal quality.

Hence, option D is correct.

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