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.”
1. Distinguish between value-based pricing and cost-based pricing
2. Explain the common reasons for the failure of new products. What must be the goals for a company to create successful new products?
3. Differentiate between controlled test markets and simulated test markets for new products
Step by step
Solved in 2 steps