Select a basis for pricing your product (cost, demand, and/or competition). How will you know when it is time to revise your pricing strategy?

Q: List and explain a variety of pricing objectives

A: Price is one of the major variables of the Marketing mix, and setting the correct price for a…

Q: Why are pricing decisions important to an organization?

A: Pricing implies to the step which business decides what price would be best for the product to…

Q: Explain the major differences between business and consumer markets

A: Concept of Business Markets And Consumer Markets - Business Markets, is a concept which refers to…

Q: Would the new product affect current employees in any way? Would it lead to increasing or reducing…

A: New Product Development is a process where a new product is planned and produced. This product is…

Q: Discuss eight major decisions in sales force management

A: The sales force is denoted as people in the organization who have specified the responsibility to…

Q: In what ways do other marketing-mix variables affect pricing decisions?

A: Marketing Mix- The marketing mix includes several areas of focus as a comprehensive part of the…

Q: Discuss omnichannel and multichannel marketing in both B-to-B and B-to-C structures, and explain why…

A: Multi-channel marketing combines a number of conveyance and limited time channels. It results in a…

Q: Discuss the creative decisions in developing an advertising campaign

A: Recognizing the benefits of a product means finding out what the buyer needs and not only just…

Q: Describe how and why product warranties are important marketing tools

A: Sales promotion work for the purpose of increasing immediate sales of the business products. It is…

Q: Lily used to make customized mugs for her customers. She bought regular mugs, painted designs on…

A: Marketing is said to activities which is performed with intention to build strong product awareness…

Q: Prepare preliminary outline marketing plan for new durian flavored bread using 4Ps

A: A preliminary outline marketing plan means to reach the target audience. It tells how and where you…

Q: common question might a reader have when reading a sales letter?

A: The main objective of sales letter is to persuade the reader to make a purchase. They are several…

Q: give example of each below 1. Centralisedpurchasing  and supply organisational structure 2.…

A: In order to understand this, it is important that we should know about what exactly this kind of…

Q: How marketers can influence the different stages of hotel decision-making process giving specific…

A: Marketing has the potential to significantly influence customer behavior. The following are some of…

Q: Explain the goals and tasks of promotion

A: Promotion is a marketing activity used by the business to create awareness about their product in…

Q: What are three ways to reduce the negative effects of specialization?

A: Employees who specialize in a skill are more likely to be able to focus, work more efficiently, and…

Q: Identify the potential risks in implementing the change in the case study.

A: The case is based on the difference of the opinion between public and government. It implies the…

Q: Explain the importance of developing new products and describe the six categories of new products

A: New Product Development (NPD) is a complete set of different disciplinary procedures that transform…

Q: 1 Product line extension occurs when a firm’s management decides to add products to an existing…

A: A product line extension techniques is a way of making new products for current customers or…

Q: Explain the importance of market segmentation

A: Market segmentation are categorized into four main types; which are, demographic, psychographic,…

Q: Identify the six stages in the process of establishing prices.

A: Price setting influenced the regular lives of the customers in a great manner. The price of the…

Q: Explain how to create a social media campaign

A: Execution of a planned social media marketing campaign and advertising strategy to increase brand…

Q: What potential role may multimedia skills play in the learning modalities of the 21st century?

A: Multimedia is characterized by the presence of text, images, sound, images and video; some or all of…

Q: Explain the following Five Main Types of Customers Loyal customers Impulse customers Discount…

A: Concept Of Customers - Customers, are described as those kind of individuals, or the business, that…

Q: Give examples of influencers. Discuss the impact of social media on the role of influencers in…

A: Influencers are those who are experts in a certain community endorsing or reviewing a product.…

Q: Describe the factors that affect the promotional mix

A: The promotional mix highly depends on the targeted customers. Programs for business buyers,…

Q: Why is it necessary to define advertising objectives?

A: An advertising  is the marketing of the  product, brands, or the  service to a target audience in…

Q: Disintermediation The cutting out of marketing channel intermediaries by product or service…

A: Ans. Introduction Typically, the expression "marketing channels" alludes to channels of…

Q: Discuss the role of promotion in the marketing mix

A: The promotional mix highly depends on the targeted customers. Programs for business buyers,…

Q: What role should word-of-mouth communications, buzz marketing, or product placement play in your…

A: Promotion is the activity that is aimed at providing product information and making customers aware…

Q: One of the following statements is NOT always true about Marketing Plans. Select one: a. Good…

A: A marketing strategy is a written document that outlines the steps that must be taken to attain one…

Q: Product Life Cycle: One of the following statements is NOT true. Select one: a. The ratio of…

A: The amount of time between when a product is first offered to consumers and when it is taken off the…

Q: Why are support personnel needed in the sales force?

A: A firm has a particular sales force, which refers to the professional sales people, who are involved…

Q: What is the importance of legitimacy and efficiency of a product in a business?

A: The term legitimacy can be defined as a rule or something that confirms a set of standards. It can…

Q: Identify several characteristics of effective sales objectives.

A: A company’s goals and objectives are attained with the help of marketing tactics and activities. The…

Q: Click on the links to watch the video and explain What was the Southwest Airline marketing strategy…

A: The Southwest Airlines was just an idea that started out in the 70s by two men sitting in a bar in…

Q: Short Case Study: ABC Merchandise is one of the small enterprises in the Philippines. Due to the…

A: A stressed employee cannot give their best at work and is generally not productive. Pressure and…

Q: Summarize the seven basic steps in the personal selling process.

A: Personal selling means when the product is sold to the customers face to face, A salesperson going…

Q: Explain briefly the Business Pressures-Responses-Support model.

A: As per the Bartleby Honor code we are not supposed to answer more than 1 question at a time. Please…

Q: Describe the components of service quality and the gap model of service quality

A: The quality of service, in its modern concept, is the expected expected comparison of the service…

Q: Would the product enhance the image of the company’s overall product mix?

A: The product mix is a bigger term that comprises products, the price of the product, the place where…

Q: The business analysis stage generates extremely important information for new product development…

A: New product development:  When a company transform some new ideas to establish a new product or…

Q: How does the Inter related diversification strategy apply to coffee shop business?

A: Interrelated diversification means when a company is selling the related products or adding related…

Q: How does a return on investment pricing objective differ from an objective of increasing market…

A: Obtaining a target rate of return on investment is one of the most common pricing objectives (ROI).…

Q: Define the market segmentation?    Create an detailed information about the customer centricity…

A: Since you have asked multiple questions we will solve the first question for you if you want any…

Q: What are some ways that advertisers can use native advertising to promote products?

A: Advertising is a marketing communication method that uses a public non-personal or sponsored message…

Q: Explain the chain of command.

A: Most businesses have a hierarchy that defines who is responsible for what people, teams, or…

Q: Summarize why price is important to the marketing mix

A: Price is one of the most important and crucial element of marketing mix. It is fourth element of…

Q: What strategies can small-scale producers adopt to compete with corporations that have very large…

A: Marketing strategies can be defined as the plan drafted by an organization to convert consumers into…

Q: What is the purpose, usefulness and limitations of the following strategic tools: PESTEL, P5F, ILC,…

A: Disclaimer - As per the authoring guidelines of Bartleby, we can answer only the 1st question…

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.”