According to the case study a correct pricing strategy is a critical factor for Nike to attain a correct customer base. With the South African Market highly sensitive to Price elasticity of demand, what factors is Nike to put in place when setting price?
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.”
According to the case study a correct pricing strategy is a critical factor for Nike to attain a correct customer base. With
the South African Market highly sensitive to Price elasticity of demand, what factors is Nike to put in place when setting
price?
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