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.”
Explain product line pricing. Provide an example.
In order to create various levels of perceived quality in the minds of customers, product line pricing involves the division of goods and services into cost categories.Price lining and product line pricing are similar terms that can be used interchangeably.
By positioning new products with the greatest number of features or with the most cutting-edge individual features at the highest price point, product line pricing aims to maximize profits.You will also keep a base product—one with fewer features or older features and lower performance expectations—on sale at a lower price.
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