An approach services use to set prices according to changing market conditions is known as a.premium pricing b.dynamic pricing c.cost-based pricing d.value-based pricing

Price is the monetary value assigned to a good or service, and it is the outcome of a complicated…

Answered: An approach services use to set prices…

Business

Management

An approach services use to set prices according to changing market conditions is known as

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

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Concept explainers

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.”

Question

An approach services use to set prices according to changing market conditions is known as

a.

premium pricing

b.

dynamic pricing

c.

cost-based pricing

d.

value-based pricing

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