Pricing that is adopted to influence the perception of the value of the product by comparing the actual price by the buyers is called ______________________. a. Predatory pricing b. Resale price maintenance c. Item price removal d. Deceptive reference price
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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.”
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- involves introducing a low price for a product or service to encourage consumers to try a new product in order to build sales and product loyalty. This is * O Psychological Pricing Extension Pricing Skimming Pricing O Penetration Pricing Gillette is a famous brand with branches in several countries around the world; it is specialized in producing razors for men and women. Gillette designs its packaging and advertising messages differently according to whom the product will be sold. Therefore, the company devises different ways to sell the razors to men and women. Women's razors are packaged in soft, gentle colors such as pink, whereas the packaging for men's razors are predominated by black, gray. red, and orange. This is an example of Market segmentation based on location Market segmentation based on gender Market Mix Capital goodsWhich of the following term best described the following definition when marketer apply pricing strategies involves pricing products that can only be used with the main product? The percentage change in the quantity of "Product A" demanded compared with the percentage change in price in "Product B". By-product pricing Product line pricing Complementary product pricing Breakeven point production Optional product pricing5- Pricing that is adopted to influence the perception of the value of the product by comparing the actual price by the buyers is called ______________________. a. Item price removal b. Resale price maintenance c. Predatory pricing d. Deceptive reference price
- Explain how a brand of a commonly purchased consumer packaged goods, such as toilet tissue, could be skim-priced? A service provider has decided to charge his customers P5, 000 for every upholstery cleaning service. The customer thinks that it is a steal , since the service provider is doing a great job and thinks that it could have costed them at least P7, 000 had they agreed to the first service provider that they went to. The total cost to the provider is P2, 000 which include the cleaning materials and labor. Identify the ceiling price and floor price of the service. Should the service provider decide to increase his price to P6, 500, do you think it is still acceptable to the customer? Why? Give an example of a situation where a price that is low with respect to the product’s VTC would not serve as an incentive to buy. What would be the implications of this for the use of a penetration strategy for pricing his product? RESEARCH: What is a pioneer advantage? Describe…Pricing is an uncontrollable element of the marketing environment.; True or FalseProduct line pricing refers to setting a price for by-products in order to make the main product’s price more competitive. Select one: a. True. b. False.
- List the general approaches to pricing. Select examples of products that you regularly use. i. Notice the price of each of these items For each item, ii. State the main benefits you are looking for in using the product. iii. Does the price communicate the total benefits sought? iv. Does the product’s price suggest good value? v. Do you think the manufacturer or retailer is overcharging or undercharging consumers for the product?Directions: Create a pricing scheme of certain product. Search for a product you think that the price is not reasonable. Create your own price scheme in able to meet the expectation of the buyer and able to meet also the good customer relationship. Defend your answerCustomers are more aware when they consider the price as a loss instead of a gain. a. price framing effect b. reference price c. price communication d. proportional price evaluation
- In cost-based pricing, price is 1 point considered along with all other marketing mix variables before the marketing program is set. * O True O FalseConsumers often consider price: Multiple Choice to suggest potential product use. to determine income requirement. to suggest product size. only when short on funds. to suggest product qualityPricing Q: What are different factors that should be considered by marketers before deciding price of the product? Q: How the total cost is determined/calculated by company for deciding price of the product? Q: What is breakeven point? How is it calculated? Q: How the net profit is calculated? Q: Consult your book and write the following procedures and formulas for calculating price? Cost Plus pricing Breakeven pricing Return on investment pricing Value based pricing Q: Write the methods for determining pricing of new products?