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.”
Discuss the six step price setting procedure in marketing
Price setting is a vital component while launching a product in the market.
Price is an important factor which should be kept in mind while offering the products or services to the potential customers as the customers judge your products initially on the basis of price. A good pricing strategy can make your product successful.
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