Recall your past experiences. Have you been given discounts for goods you bought? When and in what occasion? When do sellers give discount? Give an example and illustrate how it is computed. Give also an illustration of how selling price is determined.

Q: State four kinds of terms of sale. Which one do you prefer and why?

A: The International Chamber of Commerce (ICC) distributes an update for the global business terms;…

Q: If a firm wished to encourage repeat purchases by a buyer throughout a year, would a cumulative or a…

A: A quantity discount is a reduced price offered to a buyer on the per-unit price for a certain…

Q: What is the Analytical Challenges with Mixed Price Bundling?

A: A mixed strategy is used for probability distribution to choose among the available actions…

Q: If you see a price that is a little less than a round number, e.g. $1.99 or €99.95, does it makes…

A: Psychological Pricing is a method of pricing products where companies set the price lower that its…

Q: Give an example of a product that has a price that you find difficult to classify as being high or…

A: High-low pricing is a typical retail pricing technique where an item or administration,  is…

Q: Explain what a wholesaler does. How does this benefit the retailer? How does this benefit the…

A: Wholesaler is the part of the supply chain in a business who purchases in bulk from the…

Q: When using this approach, the retail price is determined by adding a fixed

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Q: What are the benefits of the direct selling model? How does this impact the supply chain?

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Q: What is the name of the discounting method that is used to attract new customers?

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

Q: If you are the seller will you provide discount for customers? Why or why not?

A: Disclaimer: Since you have asked multiple question, so as per company policy, we will solve the…

Q: How can you attack Walmart because of its aggressive pricing actions? Note: By believing that…

A: It is the largest chain in the world which supply the household grocery , fashion, tools etc.  The…

Q: Why setting the right price is essential?

A: Pricing is the process of determining the value that a manufacturer will receive in exchange for…

Q: Given that there is a serious disadvantage to cost-based pricing, how would you account for its…

A: Before we proceed with answering the question let us first know the meaning of terminologies used…

Q: How much flexibility does the salesperson have in negotiating price with the customer?

A: Customers always look for a salesman who is very flexible in negotiating prices and details for…

Q: In terms of pricing principles, why do rental companies often display the retail price alongside the…

A: Pricing is the decision where executives of the business is involved to identify and set worth of…

Q: Price and samples of products can be good when selecting a retailer,but is it enough?

A: A business wants the best vendor to meet its requirements and specifications so that it can provide…

Q: difference between basic, producers’ and purchasers’ prices?

A: The basic price is that the quantity owed by the producer from the emptor for a unit of a decent or…

Q: Penetration pricing and price skimming are marketing strategies commonly implemented when companies…

A: Both strategies are commonly implemented in the organization while launching new products and…

Q: Discuss the advantages of fixed-price policy on the part of customer and marketer.

A: A fixed-price contract gives both the buyer and seller an anticipated outline, offering stability…

Q: Being at the premium end is a category upon itself. Describe the indicators of premiumness or high…

A: Pointers/indicators of "premium-ness" will differ enormously relying upon the item. The familiar…

Q: What are the four categories of marketing activities, usually referred to as the marketing mix? In…

A: The main 4 P's of marketing are product, price, promotion, place.  Product - Goods or service Price…

Q: Alicia is a self-employed hair stylist who owns her own salon. She has asked you to consult with her…

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Q: Discuss the concept of market and importance of market price

A: A market is a gathering place for two or more parties to exchange products and services. Buyers and…

Q: What are the internal and external factors that you must consider while setting up a price? Discuss

A: (A) Internal Factors: 1. Organisational Factors:   As These Pricing decisions occur on two levels…

Q: IDENTIFICATION. COMPLETE each statement with the appropriate term by writing your answer on the…

A: Since you have posted a question with multiple sub-parts, we will solve the first three subparts for…

Q: How is a break-even analysis used to evaluate possible prices

A: Break-even analysis is the process of calculating and evaluating an entity's margin of safety based…

Q: Which ones usually will result in a firm having lower prices?

A: A firm can have a strategy of setting a lower price for its product in the market under the…

Q: Why should a purchaser evaluate the cost of making an item instead of simplyevaluating the purchase…

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Q: Many successful retailers use a loss leader pricing strategy, in which they advertise an item at a…

A: Price is more of a psychological concept where it acts as a perceived value in the eyes of the…

Q: Penetration pricing and price skimming are marketing strategies commonly implemented when companies…

A: Pricing is an important determinant of business trade and success of volume of trade.

Q: Discuss the importance of market segmentation in pricing strategy. Please cite examples to support…

A: Market Segmentation can be defined as the process of dividing the entire market into different…

Q: give an example of a product that has a price that you find difficult to classify aa being high or…

A: All the products are worth the price paid for. but in some cases, the prices are fixed…

Q: Explain what bait and switch is and why it is an example of deceptive pricing. Have you ever been a…

A: Bait and switch is a morally questionable advertising strategy that involves luring consumers in…

Q: Why is price lining used by some retailers?

A: Concept Of Price Lining - Price Lining, is that kind of a concept, which is also known as the…

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.”