What is the main reason for establishing pricing objectives? a. to give direction for price movements over the product life cycle b. to define the initial price c. to establish a good understanding of the market and the needs of the consumer d. to interact with the other elements of the marketing mix

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Q: 8. Segmented pricing is A. Promotional money paid by manufacturers to retailers, in return to…

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Q: What are different factors that should be considered by marketers before deciding price of the…

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Q: HOW WOULD THIS MARKETING CONCEPTS AFFECTS THE PRICING STRATEGY OF THE COMPANY?

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Q: From the different contents of marketing plan, choose one and explain what is its importance?

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A: b) Group PricingBusinesses that offer discounts to groups of customers use group pricing. This is…

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A: The answer is-

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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.”