multi-product company differs from a company selling a single product

Q: why penetration pricing is more advantageous for the entrepreneur?

A: When used appropriately, penetration pricing, like loss leader pricing, could be an effective…

Q: Differentiate among these on practical ground i.e. through definition or theoretical perspective and…

A: Marketing is an activity which the firm takes up to make customers. For this marketing strategies…

Q: The two types of integration for sport and non-sport products are, Select one or more: Traditional…

A: INTRODUCTION -  Integration is a marketing strategy that aims to combine two or more products or…

Q: What are unsought products? Give an example of an unsoughtproduct, and explain how it might be…

A: Direct selling is the popular and effective promotional method of the company. In this sales…

Q: Required Information Andrea Collins was surprised to receive an unsolicited telephone call from…

A: Andrea Collins received an unexpected call from 'Stellar Headhunters Inc.' that caught her off…

Q: How can a company determine whether a brand extension is the right strategy for their product or…

A: Concept Introduction :- Brand extension refers to a marketing strategy where a company uses an…

Q: What are Nescafe’s chief competitors doing? How does each major competitor position its brand…

A: Nescafe's chief competitors globally and in the US specifically are Folgers, Starbucks, and Maxwell…

Q: Consider the product line offered by your local McDonald's franchise.  Discuss examples of product…

A: In my local McDonald's franchise, the width of items are very enormous with burgers, wraps and…

Q: What is Straight product extension?

A: Product extension is launching a product that is already known to the company but involves features…

Q: Please provide a clear example to explain the difference between "Brand extension" and "

A: Company will create value for customers and shareholders. It will create value for shareholders in…

Q: Discuss how the profitability of your product will change as it moves through each of the phases of…

A: Profit is the amount of revenue left over after all expenses, debts, and other costs have been…

Q: Describe in detail what is test marketing in product management?

A: Introduction:- At all phases of the research entire life cycle, production management is an…

Q: Frutika is available in your near retail store? If you didn’t find it in any store do you search in…

A: A competitive advantage refers to a situation when a company performs better in comparison to its…

Q: Illustrate the key characteristic distinguishing business products from consumer products?

A: Product refers to the bundle of features and utility which can satisfy the customer's needs.…

Q: Explain why some products succeed and others fail?

A: Products are the major element based on which other elements are designed by the marketers. Products…

Q: Explain what is meant by a hierarchy of needs and provide examples of one or more products that…

A: Ans. Introduction Hierarchy of needs are the needs that are necessary for the complete development…

Q: Identify a unique selling proposition

A: A unique selling proposition (USP) characterizes the organization's unique situation in the…

Q: Evaluate the cost-benefit analysis of investing in premium or customized packaging for luxury…

A: Cost-benefit analysis (CBA) is a methodical technique for determining the advantages and…

Q: Describe the four major barriers to effective listening and apply the suggestions for effectiveness…

A: Effective Listening is not manageable & there are a no. of barriers that stand in the form of…

Q: What different strategies do firms use to extend the life cycles of their products throughout the…

A: The product life cycle gives the marketers an understanding of the stages of the product through…

Q: What is algorithmic pricing?

A: Algorithmic pricing is the act of working out offers and offers for an exchanged item by means of a…

Q: In your own words, differentiate consumer products and industrial products. Which of the two…

A: Consumer Products-Consumer products, also known as final goods, are items purchased by individuals…

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.”