When can you use different pricing strategies and what are their suitable product categories? Instruction: -give examples for each type ? -Answer in one page. -answer the question about only the List of 7 strategies are listed in the image.
When can you use different pricing strategies and what are their suitable product categories? Instruction: -give examples for each type ? -Answer in one page. -answer the question about only the List of 7 strategies are listed in the image.
Principles Of Marketing
17th Edition
ISBN:9780134492513
Author:Kotler, Philip, Armstrong, Gary (gary M.)
Publisher:Kotler, Philip, Armstrong, Gary (gary M.)
Chapter1: Marketing: Creating Customer Value And Engagement
Section: Chapter Questions
Problem 1.1DQ
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Question
When can you use different pricing strategies and what are their suitable product categories?
Instruction:
-give examples for each type ? -Answer in one page.
-answer the question about only the List of 7 strategies are listed in the image.
Transcribed Image Text:Price Adoption Strategies
Strategy
Discount and allowance pricing
Segmented pricing
Psychological pricing
Promotional pricing
Geographical pricing
Dynamic pricing
International pricing
Description
Reducing prices to reward customer responses such
as volume purchases, paying early, or promoting the
product
Adjusting prices to allow for differences in customers,
products, or locations
Adjusting prices for psychological effect
Temporarily reducing prices to spur short-run sales
Adjusting prices to account for the geographic location
of customers
Adjusting prices continually to meet the characteristics
and needs of individual customers and situations
Adjusting prices for international markets
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