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.”
1. How do wholesalers and retailers set their prices by using markups? 2. What is average-cost pricing? What are the six types of costs involved? Give examples. 3. How to use break-even analysis to evaluate possible prices? 4. What are the many ways that price setters use demand estimates in their pricing?
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