How did Southwest Airline manages to stay in the industry as the cost leader (cheapest price), given that there is a slim profit margin due to low fare compared to the sky-rocketing price in running an airline?
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Customary Pricing
There are various types of pricing strategies followed in the market. They are psychological pricing, odd pricing, free onboard pricing, customary pricing, prestige pricing, dual pricing, ruling pricing, negotiated pricing, mark up pricing, etc. each one can be explained as follows:
Multiple Unit Pricing
“Multiple-unit pricing is a practice where a company offers consumers a lower than unit price if a specified number of units are purchased.”
How did Southwest Airline manages to stay in the industry as the cost leader (cheapest price), given that there is a slim profit margin due to low fare compared to the sky-rocketing price in running an airline?
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