Once a company determines a base price, a series of price tactics are often offered to help fine-tune the base price to make sure it satisfies the company and customer. List the four basic price tactics and define each one.

Q: Cost plus pricing is a logical method of pricing since it takes into account current demand,…

A: Cost plus pricing is a pricing strategy in which the price of the goods which is to be sold is…

Q: Describe the psychological pricing techniques and give examples

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Q: type of pricing approach will you adop

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Q: Explain what is 'psychology pricing' and discuss three types of psychology pricing. Support your…

A: Psychology Price is a pricing strategy aimed to lure the customers in order to short purchase the…

Q: Read the quotation below and explain how it related to the basic pricing process "The moment you…

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Q: How is the price of an item established in a target pricing contract? What makes target pricing…

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Q: What is the difference between Skimming and Penetration Pricing? Explain with suitable examples.

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Q: What is the main (most important) way that Cost-Based Pricing is different from Customer Value Based…

A: Cost based prcing refers to pricing bases on cost of production, distribution, and a fair return for…

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Q: Can you offer different levels of products or services at different price points? Please identify…

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Q: Analyze the pricing graph. Which product price is expected to generate the most profitability?

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Q: Price is the only element of marketing mix that helps in generating income. A marketer should adopt…

A: I am not a poet but can help you in learning this topic by mnemonics. It will be in bullets form :

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Q: What is the concept of value-of-service pricing? Is this price strategy still relevant today?

A: The importance of the service price and whether the strategy is true in current patterns.

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Q: Why is it important to establish pricing targets before putting a price on goods and services?

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Q: Define the term price skimming?

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A: Customer based pricing is the method of pricing  where a company sets price for the products or…

Q: escribe the general advantages and drawbacks of the penetration pricing strategy. For example,…

A: Whenever a product sells cheaper than that of the competitors throughout its original launch phase,…

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A: Profit maximization can be done by various ways. The company can reduce the cost by enhancing its…

Q: How Fine-tune the base price with pricing tactics.?

A: Pricing Strategies: When selling a product or service, a company can employ a range of pricing…

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.”