ENTREPRENEURIAL MARKETING
MARKETING MIX
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
Outline what is meant by Discriminatory Pricing.
|
|
|
Outline what is meant by Promotional Pricing.
|
|
|
Outline what is meant by Psychological Pricing.
|
|
|
Outline what is meant by Loss Leader Pricing.
|
|
|
Outline what is meant by Marketing Skimming.
|
Detailed explanation-1: -Price discrimination is a selling strategy that charges customers different prices for the same product or service based on what the seller thinks they can get the customer to agree to. In pure price discrimination, the seller charges each customer the maximum price they will pay.
Detailed explanation-2: -Why Do Companies Practice Price Discrimination? Companies practice price discrimination in order to maximize profits. Since a large market typically includes many types of consumers, price discrimination allows companies to offer a high price to well-off consumers and a low price to the most price-sensitive consumers.
Detailed explanation-3: -On the same train, customers can be paying different prices for the same ticket. Charging different prices for the same product in different markets until the MR of the last unit sold equals the MC of the product sold in each market is described by Price discrimination of third-degree.