What are the different pricing strategies that firm can use to change demand pattern?
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.”
What are the different pricing strategies that firm can use to change demand pattern?
The pricing strategy is the method that a company uses to price their products in the market.
Some common pricing strategies that use to attract customers in the market are the following:
- Skimming pricing strategy
- Penetration pricing strategy
- Competitive pricing strategy
- Premium pricing strategy
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