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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.”
Describe bundle pricing, and give three examples using
different industries.
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- Pricing is not an end in itself but a means to achieving certain objectives of the marketing department of a firm.” DiscussAnalyze then compare and contrast how Burberry’s and H&M’s different pricing relate to supply and demand, costs, perceptions of value and competition.(a) What is segmented pricing? (b) Briefly describe the different types of segmented pricing.
- Retailers typically use two basic pricing strategies. Explain the advantages of the two pricing strategies and provide examples for each type. When setting prices, what are some important factors that retailers must consider?What is meant by pricing? Describe any three strategies that can be done by firms if they do not want to increase the price of a product.Why do marketets use trade or functional discounts,quantity discounts, cash discounts, and seasonal discounts in pricing to members of the channel?
- Distinguish pricing based on the cost life cycle and pricing based on the sales life cycle, and give anexample method for eachDiscuss the difference between the two (2) types of pricing approaches when launching a new service or product (Market Penetration & Market Skimming).Please assist Based on a retail store that sells clothing for the age between 8 and 40 years . Identify your predominant price strategy, apart from odd pricing, that youintend to use. Justify your choice. Explain how you intend to limit the number of mark-down.