BUSINESS ADMINISTRATION
MARKETING MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Odd-Even Pricing
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Prestige Pricing
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Multiple Unit Pricing
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Bundle Pricing
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Detailed explanation-1: -Odd pricing refers to a price ending in 1, 3, 5, 7, 9 just under a round number, such as $0.19, $2.47, or $64.93. Even pricing refers to a price ending in a whole number or in tenths, such as $0.20, $2.50, or $65.00.
Detailed explanation-2: -Odd-even pricing is a pricing strategy involving the last digit of a product or service price. Prices ending in an odd number, such as $1.99 or $78.25, use an odd pricing strategy, whereas prices ending in an even number, such as $200.00 or 18.50, use an even strategy.
Detailed explanation-3: -Odd-even pricing refers to a pricing method that’s similar to charm pricing. It’s a form of psychological pricing that uses underlying human motivations to drive consumers to action. It’s the strategy of odd-even pricing utilizes a psychological appeal of the numbers that are displayed in a price.
Detailed explanation-4: -Value-Based Pricing Strategy A value-based pricing strategy is when companies price their products or services based on what the customer is willing to pay. Even if it can charge more for a product, the company decides to set its prices based on customer interest and data.