Describe the psychological,legal, and ethical aspectsof pricing.

Q: Explain the role of costs in pricing decisions anddescribe how combinations of price, fixed cost,…

A: break-even analysis plays a major role in cost in the pricing decisions it determines the volume of…

Q: define the various objectives that a company hopes to achieve through pricing .

A: Introduction :- Pricing is one of the most essential components of marketing strategies. Since the…

Q: Describe the psychological pricing techniques and give examples

A: Psychological pricing is a technique which is used by the companies to hit the subconscious mind of…

Q: 2.List the factors that influence pricing decisions, and explain break-even analysi

A: Price is the amount a person pays for a good, service or any idea. This is the amount for which the…

Q: Explain the termValue-added pricing?

A: Value-added is the difference between the price of a product or service and the production cost. The…

Q: Describe the two types of psychologicalpricing other than prestige pricing.

A: Pricing refers to a marketing strategy in which a marketer makes strategies to determine the price…

Q: Describe and give examples of some of the followingtypes of pricing objectives: profit, market…

A: To fix the price of any products or services, the companies will choose the suitable pricing…

Q: Compare the different types of pricingstrategies.

A: There are five types of pricing strategies are:1. New product pricing2. Differential pricing3.…

Q: What is the markup approach to pricing?

A: Cost plus price is also known as markup price. It is a pricing method where the fixed percentage is…

Q: Explain Pricing during Difficult Economic Times?

A: Pricing refers to setting of price for a particular product, after considering various costs of…

Q: How do legal and regulatory forces influence pricingdecisions?

A: Pricing decisions between competitors in order to raise prices for particular products and services…

Q: Enumerate the objectives of pricing policy with explanation

A: The core objectives of pricing policies are Higher profits, achieving market share, competition…

Q: Explain the term base-point pricing?

A: Pricing is the process of computing the cost to the customer. It is based on the perceived value…

Q: what is the best pricing strategy for a start-up?

A: The principle point of the administration of each association is to benefit by actually getting the…

Q: Identify and explain the Minimum-Cost pricing Versus Marginal-Cost pricing Strategy.

A: Marginal cost pricing and Minimum cost pricing:  - Marginal cost is the addition to the total cost…

Q: List the pricing practices thatare illegal or unethical.

A: Practicing ethics while pricing a product is important because it is the responsibility of companies…

Q: Explain the termCost-based pricing?

A: Рriсing  strategies  under  Mаrketing  are  the  methоds  to  find  оut  the  vаlue  оr  соst  оf…

Q: Explain briefly the concept of shadow pricing and comment on the usefulness and it's limitations

A: Pricing is seen as one of the most important P in the marketing mix of any company. It is said that…

Q: xplain the importance of pricing in the following: · Buye

A: Pricing is the only revenue source to the company and also, plays an important role in the lives of…

Q: explain and give an example of cost-plus pricing, targetcosting, and yield management pricing

A: Pricing is the process where the organization sets the prices of its product or services which are…

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.”