Analyze the bases used for setting prices

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A: Market coverage is the process of assessing the various segments of the market and deciding which se...

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Q: T F The marketing mix is composed of product,price, distribution, and promotion.

A: Marketing mix is a set of marketing tools which is crucial to develop the marketing strategy and pla...

Q: TRUE/FALSE Technology is an important factor in the growth and adoption of direct segmentation and b...

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Q: Define departmentalization by product

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Q: What are the major differences between discount storesand department stores?

A: Discount stores are stores that offer products at a very discount rates as compared to other designe...

Q: How companies themselves are inviting consumers to play a more active role in shaping products and b...

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Q: What concept developed by Brandenburger and Nalebuff as a counterpart to Porter’s five-forces consis...

A: Porter’s Five Forces is a model to analyze competitive strength of the organization in market place....

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A: Management is a systematic approach to reach the desired goals. Managers are required to set objecti...

Q: Summarize eight types of sales promotion.

A: Promotion mix is a combination of elements that help in the promotion of products and services .Prom...

Q: Which activity combines inventory management,order processing, warehousing, materialhandling, and tr...

A: Physical distribution is the group of activities performed to supply the finished goods to the vario...

Q: T F Piggyback service is unique to air freight.

A: When dealing in the real world, an organization needs to prepare a back-up plan or should be aware o...

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A: In a market, various marketing terms are used to differentiate the organizations and their working. ...

Q: How companies themselves are inviting consumers to play a more active role in shaping products and b...

A: Customers are the kingpin of the business, goods are manufactured according to the customers require...

Customary Pricing

There are various types of pricing strategies followed in the market. They are psychological pricing, odd pricing, free onboard pricing, customary pricing, prestige pricing, dual pricing, ruling pricing, negotiated pricing, mark up pricing, etc. each one can be explained as follows: 

Multiple Unit Pricing

“Multiple-unit pricing is a practice where a company offers consumers a lower than unit price if a specified number of units are purchased.”