Question

Katlin knew that her established customers liked her product much better than her competitor’s. She was planning to expand into new markets. She was planning to charge a higher price than competitors to help demonstrate that her products have high quality. Katlin was considering ______.

Answer 1

Premium pricing

Step-by-step explanation:

Premium pricing is the strategy of charging a high price to maintain a brand, a business, a product or a product status . In this, the sales volumes remain small, by keeping prices high. This allows carefully sustaining the value, status, prestige and brand value.

So according to the given scenario, Katlin wants to expand into new markets and planning to charge a higher price as compared to the competitors so it reflects the concept of premium pricing