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Foundations of Business - Standalo...

4th Edition
William M. Pride + 2 others
ISBN: 9781285193946

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BuyFindarrow_forward

Foundations of Business - Standalo...

4th Edition
William M. Pride + 2 others
ISBN: 9781285193946
Textbook Problem

What are the five major categories of pricing strategies? Give at least two examples of specific strategies that fall into each category.

Summary Introduction

To determine: The five major categories of pricing strategies and two examples of specific strategies that fall into each category.

Introduction: Price frames a vital constituent of the showcasing blend and is for the most part administered by the organizations pricing objectives, which is intelligent of the marketing, money related, product and vital objectives, alongside the consumer price desires, the current stock, the manufacturing facility and the related price elasticity.

Explanation

The five major categories of pricing strategies and two examples of specific strategies that fall into each category are as follows:

  • Disparity pricing: It utilizes arbitrary discounting and negotiated pricing.
  • Promotional pricing: It utilizes unique occasion pricing and price pioneers...

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