Describe three main factors that impact pricing decisions. You are the Marketing Director of a resort in Caribbean which has been severely impacted by travel bans as a result of COVID19. What pricing strategy you would employ? Please provide the rationale for your choice.
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.”
Describe three main factors that impact pricing decisions.
You are the Marketing Director of a resort in Caribbean which has been severely impacted by travel bans as a result of COVID19. What pricing strategy you would employ? Please provide the rationale for your choice.
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