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

Q: 1. How is customer-based pricing related to the role of price in the commercial exchange versus the…

A: Consumer-based pricing is the third most prevalent method used by businesses to establish their…

Q: Please explain the possible disadvantages of using (1) competition based pricing and (2) consumer…

A: ANSWER:Disadvantage of using Competitive based pricing is: Pricing is dependent on the price of…

Q: Marketers may choose from various pricing strategies when selling a product or service.   a)…

A: Price refers to the value of a product or service. Price is determined in different ways, depending…

Q: 40 Value-based pricing is the reverse process of ________. Select one: a. good-value pricing b.…

A: Cost-based pricing is a pricing method that is based on the cost of production, manufacturing, and…

Q: What then is the product’s pricing based on, if not costs? Present the product’s pricing and what…

A: Product pricing refers to the process in which the organization sets the price of the product…

Q: Why are ethical concerns important issues when designing service pricing and revenue management…

A: Disclaimer: Since you have asked multiple question, so as per company policy, we will solve the…

Q: The formula of paracetamol tablets is vertically identical for all brands. Glaxo charges a premium…

A: Glaxo charging a premium price for the paracetamol tablets and even after that, it remains the…

Q: What tactics are used in pricing at .99 2. Should companies opt for psychological pricing? If yes…

A: Since you have asked posted a question with multiple sub-parts, we will solve the first three…

Q: In cost-based pricing, price is 1 poin considered along with all other marketing mix variables…

A: Yes it's True!   Explanation- While in customer value-based pricing, customers’ perceptions of…

Q: 1. The CEO of a large company selling seeds and garden supplies to consumers and businesses through…

A: Ans. Pricing of the product is one of the maximum critical components of advertising blend in which…

Q: The most effective pricing strategy to use when there is a brand new product in the market?

A: Pricing strategy can be explained as technique which helps the company to price its products or…

Q: Why is it important to determine pricing objectives before pricing goods and services?

A: Organization priced their products based on their motives. If the organization wants to generate…

Q: A company has two products. One is moderately priced and has fewer number of competitors. The other…

A: Pricing refers to setting a price for a product or service at which it will be sold in the market…

Q: If you were planning on creating an online financial brokerage service, how would you approach…

A: Here are some fundamental stages for beginning our own business establishment.  Ascertain Expenses.…

Q: What are the possible problems that will be encountered if a firm uses | perceived-value pricing and…

A: In perceived value pricing method, price is set based on the customer willingness to pay and what he…

Q: In one question Explain the pricing factor of competitive pricing why does what the competitor…

A: The process of evaluating strategic price points to best take advantage of a product or…

Q: . What are the various factors that influence the pricing decisions in detail?

A: An organization's price level sends signals about the quality of its products to the client. A…

Q: 1 What are some examples of bundle pricing?
  2 What are some other examples of promotional pricing?…

A: 1.Bundle pricing is the act of selling a bunch of things as a bundle at a cost lower than what the…

Q: What is the opportunity for a lorry rental company? What is the Product Overview for a lorry rental…

A: In rental lorry company business is that running the transport system in the national for moving the…

Q: providing healthy food lunch boxes to school children what do you suggest about their  product…

A: The marketing mix is the planning done by the company to carry out the various functionalities and…

Q: Cite three (3) pricing strategies that companies or firms implement. Discuss the circumstances or…

A: The three pricing strategies are penetrating, skimming, and following. Penetrate: Setting a low…

Q: Is a price change needed? Explain how this might be done and why the change might be necessary

A: Price is more of a psychological concept where it acts as a perceived value in the eyes of the…

Q: s pricing important for consumers in the process of decisions making?

A: price/cost of possession continues to be a rather prominent decision driver, with almost half the…

Q: what is the Competitive pricing between vaseline intensive care body lotion and other competitors

A: Price is the perception of product in customer's mind. A product which is highly perceived can be…

Q: 18. Augustine DOES have a patent on the disposable blanket, so it is not easily copied. Even if they…

A: Question 18: Setting up pricing is one of the most important feature of any successful product.…

Q: Let's choose a product, then analyze PRODUCT COMPENENTS (everything customers think about before…

A: Pricing strategy is the process to set prices for different products and services that will help to…

Q: Subject: Pricing Strategies If your item cost P10 and you apply 60 percent mark-up, what would be…

A: Cost of the item= 10 Mark up percentage = 60 The price of the item will be= 10*60/100 =6…

Q: Develop 4 separate pricing policies for companies? Explain when they will be more suitable for…

A: Price is more of a psychological concept where it acts as a perceived value in the eyes of the…

Q: Pricing that is adopted to influence the perception of the value of the product by comparing the…

A: Companies use different types of pricing strategies in order to to sell their products and hence all…

Q: Which of the following term best described the following definition when marketer apply pricing…

A: Here in the given Multiple choice question, we will be choosing an appropriate option or term and…

Q: How does the profit of a business firm behave during the product life cycle? “Knowledge of the…

A: The product life cycle can refer to how a product goes through when introduced to consumers in the…

Q: In pricing a product cost works as a floor and customer perception of the value of a product works…

A: In pricing a product cost works as a floor and customer perception of the value of a product works…

Q: .In pricing a product cost works as a floor and customer perception of the value of a product works…

A: In pricing a product cost works as a floor and customer perception of the value of a product works…

Q: Do you think the Newyorker's pricing strategy will work for a certain products here in the…

A: Pricing strategy for each of the company must be different. The reason for this is because the…

Q: 1. In what types of decisions can break-even analysis help managers? 2. How can break-even analysis…

A: Break-even analysis can be defined as the way by which an organization manager can calculate that…

Q: 1. Consider the following product categories: Automobiles, smartphones, clothing lines (a) For each…

A: Pricing is one of the 4 P's of marketing mix. The companies fix the price of the product depending…

Q: Product line pricing refers to setting a price for by-products in order to make the main product’s…

A: Yes, Its True!   By-product pricing refers to setting a price for by-products to make the main…

Q: Assume you are an entrepreneur of a new home technology product, how you can set your pricing…

A: A pricing policy is indeed a consistent response to a formal inquiry. A systematic approach to…

Q: Discuss the following briefly. a. price wars b. Price psychology c. Market Pricing

A: Disclaimer: Since you have posted a question with multiple sub-parts, so as per the company…

Q: A company has two products. One is moderately priced and has fewer number of competitors. The other…

A: The correct option is option a. Do not give discounts for any of these products.

Q: 1.  Distinguish between value-based pricing and cost-based pricing

A: Disclaimer -  I am solving the first question for you, in case you need solution to other questions…

Q: Directions: Create a pricing scheme of certain product. Search for a product you think that the…

A: Marketing is to build customers for the firm. It is the exchange of value between customers and the…

Q: Select a basis for pricing your product (cost, demand, and/or competition). How will you know when…

A: Price setting distresses the regular lives of the customers in several ways. The price of the…

Q: When you evaluate the three major pricing strategies (namely value-based pricing, cost-based…

A: The business must set a price for each commodity. However, calculating the price can be achieved in…

Q: Over the past year, you and your friend have decided to embark on a new business venture, you have…

A: 5 aspects that might be needed to consider when developing a price of your new offering: 1. Cost -…

Q: what is value based pricing? is it good to use value based pricing for start-up business?

A: Value based pricing is used to meet the expectations of the customers. The term is used when a firm…

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.”