ENTREPRENEURSHIP

Detailed explanation-1: -A pricing policy is a standing answer to recurring question. A systematic approach to pricing requires the decision that an individual pricing situation be generalised and codified into a policy coverage of all the principal pricing problems. Policies can and should be tailored to various competitive situations.

Detailed explanation-2: -A tried-and-true product line pricing strategy, price bundling involves packaging several related items together as one item. You can see this in package deals associated with holidays or in automobile sales where the car comes in a bundle with a whole variety of accessories.

Detailed explanation-3: -A pricing strategy is a model or method used to establish the best price for a product or service. It helps you choose prices to maximize profits and shareholder value while considering consumer and market demand. If only pricing was as simple as its definition-there’s a lot that goes into the process.