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How is product-line pricing helpful to both retailers and their
customers?
Step by step
Solved in 2 steps
- Given that there is a serious disadvantage to cost-based pricing, how would you account for its widespread use in retailing and other businesses?How can retailers create effective pricing strategies that balance profitability with customer value?How does cost-based pricing differ from value-basedpricing?
- Why would retailers risk violating any of the legal issues discussed in this chapter, such as predatory pricing, price fixing, deceptive pricing, bait and switch, or discriminatory pricing? Explain your respond.What are the advantages and disadvantages of last in first out methods of stores pricing?What types of retailers often use a high/low pricing strategy? What types of retailers generally use an everyday low pricing strategy? How would customers likely react if a retailer switched its pricing strategy from one to the other?