GK
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: -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: -Five Product Mix Pricing Strategies With Examples These include: Bundle pricing: Multiple products are grouped together for a discount. Telecom providers bundle TV, phone and Internet services, while fast food restaurants bundle hamburgers, fries and a soda together.
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: -Product line pricing is more effective when there are ample price gaps between each category so that the consumer is well informed of the quality differentials. There are five common product line pricing strategies – captive pricing, leader pricing, bait pricing, price lining, and price bundling.