What are the disadvantages of competition-based pricing?

Q: What are the ways to improve a product mix?

A: In marketing mix, there are four types of mix which are product mix,  price mix, promotion mix and…

Q: What is meant by a compressed workweek?

A: When an employee works with the right strategies, motivation, and plans, then he/she becomes…

Q: How does a customer’s decision-making time vary with the type of product?

A: Consumer behavior is said as thei personality and attitude of customers having different…

Q: What are the benefits of successful new products?

A: You must balance the necessity and difficulty of new product development as a company to maintain…

Q: What are business incubators?

A: Incubators benefit startup business owners in a variety of ways. Their office and manufacturing…

Q: • Assume that you need to do a market research before launching a “car service at doorstep” business…

A: Qualitative Data Collection: It's about people's perceptions, thus qualitative data is descriptive…

Q: Research indicates that customers are driving their cars longer and expect higher quality than ever…

A: Quality goods and services are guaranteed as an outcome of the competition, as are cheaper prices.…

Q: What is meant by the term acquisition?

A: The capital of a firm is split into little equal parts of a finite number. Each unit is referred to…

Q: Define consumer product.

A: Marketing discuss about product information dissemination in the market to make customers aware…

Q: What is Discretionary income?

A: After you've paid for your fundamental needs, you'll have discretionary cash, which you may spend…

Q: Using environmental analysis tools (PESTEL MODEL.), assess the strategy of launching Gigafactories…

A: PESTEL Model of marketing any product or services defines the segmentation on the basis of six…

Q: What is meant by Flextime?

A: The employees of any company or business are their biggest assets. Companies spend around 70%-80% of…

Q: What is meant by the intermittent process?

A: Intermittent processes are used in intermittent production systems, where products are produced only…

Q: create a customer segmentation for lynk & c

A: * Introduction - Before understanding the segmentation for Lynk and Co let us first understand…

Q: Academics have argued that market efficiency can be defined using three differing strengths; weak…

A: As per the efficient market hypothesis, markets can not be altered by undervaluing prices since the…

Q: What does Consumer buying behavior refer to?

A: Buyer behavior refers to people's decisions and actions when purchasing products or services for…

Q: When does a brand extension occur?

A: New product development process is when the company will create new products for the existing or new…

Q: Define product deletion.

A: No manager wants to be associated with a product failure, so he or she may either abandon the…

Q: Explain business product.

A: Product classification is a marketing and business term that divides products into categories based…

Q: Give 3 samples of Social Media Marketing.

A: Social Media Marketing is a shortcut defined as SMM.SMM is used on social media platforms to market…

Q: Create a 5 survey questioners about increasing of fuels in petron.

A: Below are a few questions about gasoline purchases and to find out what customers think about fuel…

Q: how to give a presentation for pepsi company?

A: Pepsi is a carbonated soda pop made by PepsiCo. Initially made and created in 1893 by Caleb Bradham…

Q: What is the role of business analysis?

A: The examination of how dynamic a market is and what changes take place in the market is called…

Q: What is the purpose of the Title VII of the Civil Rights Act (1964)?

A: Title VII prohibits discrimination in the workplace based on race, colour, religion, gender, or…

Q: State the variety of useful resources for secondary information.

A: Marketing research is one of the primary function of marketing which is performed prior to all other…

Q: Name the categories into which new products are grouped?

A: Product  classification  means  classifying  the  products  according  to  the  needs  of  the…

Q: What are the benefits of telecommuting?

A: Businesses now have to work with technology, and telecommunication is a new widespread technology.…

Q: Explain the process of job redesign.

A: Skills are the knowledge or expertise in a specific field that will be required to execute a given…

Q: Explain status-quo pricing.

A: A pricing strategy is a plan of action in which a price is determined for the product depending on…

Q: How can companies use job enrichment as a method for motivating employees?

A: Job enrichment is a process in which, employees or workers are provided with motivation for a…

Q: Why brand insistence is the least common level of brand loyalty?

A: A brand can be defined as a collection of tangible and intangible characteristics used to build…

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A: Company will create value for customers and shareholders. They will carry out various activities…

Q: What is the importance of possession utility?

A: The economic utility can be defined as the total amount of satisfaction gained from consuming a…

Q: What steps are performed before a product’s price can be set?

A: Product Pricing: Product pricing is the process of converting a product's value into a numerical…

Q: Video games a Select one: O True O False

A: Creative industries refers to the activities which involves generation and exploration of knowledge,…

Q: Name the categories in which business products are classified.

A: A product is something or service that is supplied to meet the needs or desires of a consumer. They…

Q: What are generic products?

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

Q: What are the reasons for IKEA’s success around the world (e.g. India, Japan) while other retailers…

A: IKEA is a furniture and housewares brand with operations across the globe. It has been able to…

Q: beauty salons segment their market on the basis of demographics or psychographics? Why

A: The set of respondents who very are prospective shoppers for a beauty salon is referred to as the…

Q: Explain penetration pricing.

A: Pricing means the price which is given to product based on its production cost, competition and…

Q: It is important for companies to eliminate ways in which customers are turned off, and build loyal…

A: You understand as a business owner that your customers are the lifeline of your operation. That is…

Q: It is dangerous for the international marketer to make generalisations about consumer behaviour in…

A: Why understanding Cultural difference is important? Cultural differences is one of the most…

Q: Why brand loyalty is a valued element of brand equity?

A: Brand Equity: Brand equity refers to the value premium that a corporation generates from a product…

Q: Learn the basics of transportation management and how to efficiently and successfully obtain these…

A: Transportation Management: A transportation management system (TMS) is a technology-based logistics…

Q: How valuable is branding your coffee shop?

A: Branding is every one of the manners in which you lay out a picture of your organization in your…

Q: An effective policy to reduce a trade deficit in a small open economy would be to:

A: D) is correct answer. Increase taxes . An effective policy to reduce a trade deficit in a small open…

Q: Define the following. Natural Resources, in entrepreneurship - Human Resources, in entrepreneurship…

A: Entrepreneur is said to people who have good vision and a creative idea to start a business and grow…

Q: How the brand extension is different from a line extension?

A: Branding is a marketing strategy where the company will create its unique Identity in the market…

Q: briefly discuss some advantages and disadvantages of a retail store having its own credit card as…

A: Low Fees Many retail credit cards have no annual fees and attractive initial bonuses. As a result,…

Q: Explain Family and Medical Leave Act (1993).

A: Family and Medical Leave Act passage reflected the federal government's recognition of changes in…

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.”