How would a business/organization apply variant pricing in their organization to cater to multiple markets?
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.”
How would a business/organization apply variant pricing in their organization to cater to multiple markets?
In an increasingly globalized and competitive business landscape, organizations often face the challenge of catering to multiple markets with varying preferences, economic conditions, and willingness to pay. One effective strategy to address this challenge is implementing variant pricing. Variant pricing, also known as price differentiation or price discrimination, involves setting different prices for the same product or service based on specific market segments, customer demographics, or purchasing behaviors. This strategic approach allows businesses to optimize their revenue and market penetration by tailoring prices to specific customer segments.
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