Business

1 November, 11:45

A step out is a pricing practice in which a firm:

a. maintains a high price for a product throughout its life cycle.

b. offers an extremely low price on a single product purchase to reach the mass market quickly and capture a large market share.

c. markets a product at a low price compared to competitive offerings to secure market acceptance.

d. raises the price of a product and then waits to see if others follow suit.

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