Question

Which of these changes have you noticed? Check all that apply. A new product has a higher price than an older model. An old model goes on sale when a new model is released. A product goes on sale during a holiday. The price of a product drops after most people have already purchased it.

Answer 1

All of these answers are correct

Answer 2

When it comes to the pricing of goods, all of the above happen.

When a company releases a new product, they try to make more people interested in that new product and also try to phase out older products from the market.

Some of the ways they do this include:

• giving the new product a higher price than the old one so people buy off the old ones
• putting the old model on sale to inspire more sales

Companies will also try to take advantage of anything they can in order to sell more. This is why:

• they will put products on sale during holidays so that people can buy them
• they will decrease the price of products after people have bought them so that they can attract more sales

In conclusion, companies engage in various marketing strategies in order to sell goods and services.

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