Summarize the three pricing objectives.

Q: Discuss the impact of pricing strategies on product positioning in the marketplace.

A: The process of figuring out where new items stand in the eyes of consumers is known as "product…

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.”