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.”
Is dynamic pricing ethical?
Dynamic pricing is a type of price discrimination of the goods or services as per the specific needs and preferences of the customer. In dynamic pricing, prices hike during the peak period for a limited number of days and can reflect the market conditions on supply and demand.
Example:
1.When air traveling has a high demand the ticket prices go up.
2. In off-season traveling there are discounts on hotel rooms.
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