You have recently been appointed as the Marketing Manager of a Dog Grooming Business. The leadership team has asked you to ‘price’ a new service – a ‘Mobile’ Dog Grooming service. Explain, with examples, the five factors you should take into consideration when developing a pricing strategy?
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.”
You have recently been appointed as the Marketing Manager of a Dog Grooming Business. The leadership team has asked you to ‘price’ a new service – a ‘Mobile’ Dog Grooming service. Explain, with examples, the five factors you should take into consideration when developing a pricing strategy?
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