📢 Too many exams? Don’t know which one suits you best? Book Your Free Expert 👉 call Now!

    Question

    A bank launches a premium digital-only savings account

    for tech-savvy customers and charges a slightly higher annual fee for exclusive features. This strategy primarily reflects:
    A Penetration pricing Correct Answer Incorrect Answer
    B Skimming pricing Correct Answer Incorrect Answer
    C Competitive pricing Correct Answer Incorrect Answer
    D Cost-plus pricing Correct Answer Incorrect Answer
    E Psychological pricing Correct Answer Incorrect Answer

    Solution

    Skimming pricing involves setting a higher price initially for innovative or premium offerings to target early adopters willing to pay more. Here, exclusive features justify higher pricing. Why Other Options Are Incorrect • A: Low introductory price. • C: Matching competitors. • D: Based on cost only. • E: Price-ending tactics. Banking Example: Premium neo-banking accounts with subscription fees.

    Practice Next
    More Basics of Marketing Management Questions

    Relevant for Exams:

    ask-question