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.”
Describe the major strategies for pricing new products.
The pricing strategy that companies entering into the new market with a new product adopt are slightly different from other existing companies.
This happens because during the initial phase, companies have to focus on taking full advantage that comes from introducing a new product which was not available in the market till now.
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