Go online to a shopping site you use regularly and note theprices for different types of products. Does this firm usepsychological pricing? Product line pricing? Note any pricingstrategies you can identify. Do any of these strategies makeyou prefer the site over a competitor’s site?
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.”
Go online to a shopping site you use regularly and note the
prices for different types of products. Does this firm use
psychological pricing? Product line pricing? Note any pricing
strategies you can identify. Do any of these strategies make
you prefer the site over a competitor’s site?
Step by step
Solved in 2 steps
