Explain the 5 types of discount for business products?

Q: Select a strong brand of your choice and explain reasons?

A: A strong brand indicates how much a brand is recognizable among the masses. A brand helps in…

Q: Define Psychological pricing?

A: Psychological pricing is the practice of setting prices slightly lower than a whole number so that…

Q: What is Straight product extension?

A: Product extension is launching a product that is already known to the company but involves features…

Q: Explain the term brand extension?

A: Brand extensions are the best business strategy for companies to become more advanced. This can…

Q: Is the brand properly positioned?

A: Brand positioning can be referred to as a brand's place in the consumer's mind that it owns. It…

Q: A “fast pass" at an amusement park is an example of what type of product? Augmented product Actual…

A: The correct option is option a. Augmented product.

Q: What are Functional discounts:?

A: When selling and distributing products, the discount and allowance facility is crucial. A business…

Q: Explain five different dimensions of a firm branding and outline the importance of a firm branded…

A: Different dimensions of a firm's branding: 1.Individual branding:This strategy used to allow the…

Q: Explain the three levels of product?

A: А  рrоduсt  meаns  sоmething  thаt  hаs  vаlue.  It  is  mаde  аvаilаble  tо  the  сustоmers  in…

Q: Explain the five types of discounts for business products.

A: It is a form of rebate providing ease to the buyers in purchase terms.

Q: difference between brand identity and brand position?

A: Brand equity is the perceived value of a business or its product based on the reputation among…

Q: What is Off-price retailer?

A: A Retailer can be defined as any person or entity that sells goods directly to the consumers by…

Q: What are the Lexus brand referents?

A: The firms have to follow the effective marketing strategies for the proper promotion of goods and…

Q: Give two examples of popular products with very clear benefits.

A: There are a lot of products but we need to know the exact benefits that we can get from it. What are…

Q: Describe the major strategies for pricing new products.

A: The pricing strategy that companies entering into the new market with a new product adopt are…

Q: What should marketers know about package labeling?

A: Labeling is the substance on a bundle of item which gives the data about the item to the clients. As…

Q: Identify one product you believe to occupy each stage of the life cycle of a product and provide…

A: An item life cycle is a period from an item initially being acquainted with buyers until it is…

Q: In what stage of the product life cycleis the pet hospitality industry? In what stage of the product…

A: Product life cycle is the major concept of marketing that tend to identify life cycle of the product…

Q: What are the benefits of functional discounts?

A: The discount and allowance facility is particularly important in the selling and distributing of…

Q: What are generic products?

A: Product is most essential items which would bring both brand image and sales revenue to the…

Q: In each level, identify a certain kind of product, form, or brand.

A: There are four stages in the product life cycle namely introduction, growth, maturity, and decline.…

Q: Discuss the extendibility of any two brands of your choice and state why how introduction of new…

A: A brand extension can be described as a marketing strategy in which a company decided to launch its…

Q: Design a brand extension plan for any Brand of your choice in the light of Ansoff’s growth/share…

A: The Ansoff matrix is a marketing tool used by companies to analyze and plan their growth strategies.…

Q: What is meant by reference pricing?

A: The price a seller charges needs to consider, and be consistent with, the objectives and costs of…

Q: your own product using the Five (5) Product Levels by Kotler.

A: ​Five Levels of Product are 1. Core Benefit: the need or need that individuals need to fulfil by…

Q: Discuss the factors that could contribute to the failure of your product. How will you define…

A: Every company will create services and products to solve the problems of consumers. If the product…

Q: Why consumer confidence is an important element in the success of a branded product?

A: Consumer confidence is a statistical measure that captures consumers' perspectives on current and…

Q: What is the difference between manufacturer brands and store brands? Between family branding and…

A: A brand includes a name, symbol, term, and other characteristics that make a brand's product or…

Q: Define Business products?

A: business product unit the product and services that people would like to buy to furnish their homes…

Q: he vast array of products that consumers buy can be classified on the basis of Shopping Habits and…

A: the product that is brought for consumption and not for resale purposes is known as consumer goods.…

Q: Taken together, tobacco products, alcoholic beverages, and Del Monte brand fruits are considered a…

A: A product line is a combination of related products that a company sells under one brand name.…

Q: the decline stage of life cycle? Also give the reason for their existence

A: The decline stage of the product comes under the product life cycle. It includes following stages:…

Q: Take five products/brands, write down the reasons of their failure.

A: To be successful in the market, the products and services should possess certain features. Those…

Q: What do you understand by the term 'product life cycle'? Illustrate your answer using an example of…

A: The product life cycle is the process that a product passes through from the time it is initially…

Q: Find a recent brand extension that you feel will besuccessful and one that you feel will fail.…

A: A brand extension can be described as a marketing strategy in which a company decided to launch its…

Q: Understand why some products succeed and others fail

A: Product failure is a demotivating factor for many factors as marketers make a lot of effort to…

Q: What is promotional pricing?

A: Pricing is known for process which is concerned to towards evaluation and determination of product…

Q: Explain types of business products?

A: Business products are the goods and services needed in the process of creation of other goods and…

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.”