GENERAL KNOWLEDGE

Detailed explanation-1: -Major Product Pricing Methods There are many different pricing strategies, but Competitive Pricing, Cost-plus Pricing, Markup Pricing and Demand Pricing are four common methods for small business owners to use.

Detailed explanation-2: -Multiple pricing, or multiple unit pricing, is a pricing scheme that specifies the item price for multiple units. A typical example of multiple pricing is an item that sells at 4 for $1.00. In this example $1.00 is the multiple unit price and 4 is the multiple unit quantity.

Detailed explanation-3: -For example, in producing processed meats, chemicals, or oil there are often by-products, which – if they had to be disposed of – would make the main product uncompetitive. The producer therefore attempts to sell these by-products at the best possible price in order to keep the main product competitive.

Detailed explanation-4: -Price bundling or product bundling pricing is a pricing strategy where two or more complementary products are sold together for a price that’s lower than what the products would have cost individually. The discounted price motivates consumers to buy the bundle because it’s a better deal than buying them separately.