The airline industry alters the price of its seats based on the type of seat, the number of seats remaining, and the amount of time before the flight departs. This is example of: Select one: a. Basing-point pricing b. Zone pricing c. Dynamic pricing d. FOB-origin pricing

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A: b) Group PricingBusinesses that offer discounts to groups of customers use group pricing. This is…

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A: In accordance with our Q&A policies, since you posted a question with many subparts, we will…

Q: Sellers can influence or use consumers' reference prices when setting their product prices. * True

A: Sellers can influence or use consumers reference prices when setting their product prices.

Q: An approach services use to set prices according to changing market conditions is known as

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A: Option A

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A: Answer: b. It ensures that the business covers all product costs and earns a profit.

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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.”