The pricing policies or methods used by a business when deciding what to charge for its products.

The pricing policies or methods used by a business when deciding what to charge for its products.

• A. Pricing strategy
• B. Product life cycle
• C. Sponsorship
• D. Viral marketing

Answer: (A)

Pricing strategy is about deciding what to charge for products, using policies and methods to set prices. It covers how a business chooses price levels and structures—for example, whether to set high prices to signal quality, low prices to gain market share, or adjust prices based on costs, demand, or competitor moves. These decisions directly affect revenue and profitability and include approaches like cost-plus, competition-based, or psychological pricing. The other options describe different concepts: the product life cycle maps how a product’s sales change over time, sponsorship is about funding through partnerships, and viral marketing aims to spread a message rapidly online. So the statement matches pricing strategy.

Pricing strategy is about deciding what to charge for products, using policies and methods to set prices. It covers how a business chooses price levels and structures—for example, whether to set high prices to signal quality, low prices to gain market share, or adjust prices based on costs, demand, or competitor moves. These decisions directly affect revenue and profitability and include approaches like cost-plus, competition-based, or psychological pricing. The other options describe different concepts: the product life cycle maps how a product’s sales change over time, sponsorship is about funding through partnerships, and viral marketing aims to spread a message rapidly online. So the statement matches pricing strategy.