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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.”
Discuss three factors that affect pricing decisions for marketers.
Step by step
Solved in 3 steps
- Critically assess the effect of different Pricing Strategies on the Demand and Purchase of Consumer Goods on the local market.Describe the various pricing strategies that companies can employ in their marketing efforts.What considerations should be given to pricing strategies and promotions in driving marketing growth?