Solution
Option 1: Penetration pricing -> Setting a low initial price to quickly gain market share and attract customers, then gradually increasing prices over time.
Option 2: Competitive pricing -> Setting prices based on what competitors are charging for similar products or services in the market.
Option 3: Premium pricing -> Setting higher prices to position the product as high-quality, exclusive, or luxury, targeting customers willing to pay more.
Option 4: Skimming pricing -> Setting high initial prices to maximize profits from early adopters, then gradually lowering prices to attract more price-sensitive customers.
Hence, Option 2: Competitive pricing -> Neha analyzed and matched her prices with what competitors were charging in the market, ensuring her offering remained competitive while maintaining profitability -> correct