A manufacturer of analog watches wants to get rid of their excess inventory as the product is in the decline stage. Suggest and explain the relevance of two sales promotional tools each for consumers, trade partners and sales force for such a product. Also, explain few decision factors in this context which must be considered while designing the sales promotion program for the consumers.
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.”
A manufacturer of analog watches wants to get rid of their excess inventory as the
product is in the decline stage. Suggest and explain the relevance of two sales
promotional tools each for consumers, trade partners and sales force for such a product.
Also, explain few decision factors in this context which must be considered while
designing the sales promotion program for the consumers.
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