What is high-low pricing?
What will be an ideal response?
High-low pricing involves charging higher prices on an everyday basis but running frequent promotions to lower prices temporarily on selected items.
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The Herald Tribune Inc. has a project that costs $400,000. It has a 30% chance of a $1,000,000 payoff and a 70% chance of a $200,000 payoff. What is the expected payoff and the expected profit or loss from the new project?
A) The expected payoff is $1,000,000, and the expected loss is $200,000. B) The expected payoff is $440,000, and the expected profit is $10,000. C) The expected payoff is $400,000, and the expected loss is $40,000. D) The expected payoff is $440,000, and the expected profit is $40,000.
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Indicate whether the statement is true or false