Distinguish between optional-feature pricing and captive-product pricing. Give examples to support your answer

Q: Describe price skimming and penetration pricing. What types of new products would be best suited to…

A: Pricing of the product plays an important role for a company as pricing decides what will be the…

Q: Explain the concept of dynamic pricing and its application in industries like e-commerce and travel.

A: Dynamic pricing, frequently termed surge pricing or demand-driven pricing, constitutes a pricing…

Q: What kind of pricing strategy is single-segment pricing? Why is single-segment pricing used early in…

A: Pricing strategy refers to a given company’s plan aimed at determining the price of its various…

Q: Fine-tune the base price with pricing tactics.

A: Pricing is most important tool with any marketer. It not only gives the power to increase the profit…

Q: provide information on the state Farm insurance company's product price strategies, including…

A: Pricing strategies are a form of marketing strategies utilized by the organizations to determine the…

Q: Explain product line pricing. Provide an example.

A: In order to create various levels of perceived quality in the minds of customers, product line…

Q: Explore the concept of dynamic pricing strategies and its integration with CRM systems.

A: Dynamic pricing is a pricing strategy where the cost of a product or service is adjusted in…

Q: ovide an example from

A: Pricing is the process of determining the value that a manufacturer will receive in exchange for…

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.”