For what types of products are psychological pricing strategies most likely to be used? | bartleby

Foundations of Business (MindTap C...

6th Edition

William M. Pride + 2 others

Publisher: Cengage Learning

ISBN: 9781337386920

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Chapter

Section

Foundations of Business (MindTap C...

6th Edition

William M. Pride + 2 others

Publisher: Cengage Learning

ISBN: 9781337386920

Chapter 12, Problem 17DQ

Textbook Problem

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For what types of products are psychological pricing strategies most likely to be used?

Summary Introduction

To determine: The types of products in which psychological pricing strategies are most likely to be used.

Introduction: A pricing strategy considers portions, capacity to pay, economic situations, contender activities, trade margins and contribution costs, among others.

Explanation of Solution

The types of products in which psychological pricing strategies are most likely to be used are as follows:

Since psychological pricing proced...

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Chapter 12 Solutions

Foundations of Business (MindTap Course List)

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Ch. 12.1B - Identify the general categories of products.Ch. 12.1B - Describe the classifications of consumer products.Ch. 12.1B - Based on their characteristics, business products...Ch. 12.2B - Explain the four stages of the product life-cycle.Ch. 12.2B - How does knowledge of the product life-cycle...Ch. 12.3 - How does a product line differ from a product mix?Ch. 12.3 - Can a product line be product mix?Ch. 12.4D - What are the ways to improve a product mi?...Ch. 12.4D - Why is it important to delete certain products?...Ch. 12.4D - What is the aim of test marketing?

Ch. 12.4D - Describe the seven phases of new-product...Ch. 12.5H - Describe the major types of brands.Ch. 12.5H - How do brands help customers in product selection?...Ch. 12.5H - Define brand equity and describe the four major...Ch. 12.5H - What are the major functions of packaging?Ch. 12.6C - What factors must be considered when pricing...Ch. 12.6C - How does a change in price affect the demand and...Ch. 12.6C - Differentiate price competition and non-price...Ch. 12.6C - Why is it important to consider the buyers...Ch. 12.7D - Explain the various types of pricing objectives.Ch. 12.7D - Which ones usually will result in firm having...Ch. 12.8C - List and explain the three kinds of pricing...Ch. 12.8C - Give an advantage and a disadvantage for each...Ch. 12.9E - Identify the five categories of pricing...Ch. 12.9E - Describe two specific pricing strategies in each...Ch. 12.10C - Describe the three types of pricing associated...Ch. 12.10C - Differentiate between FOB origin and FOB...Ch. 12.10C - Explain the five types of discounts for business...Ch. 12 - What does the purchaser of a product obtain...Ch. 12 - What major factor determines whether a product is...Ch. 12 - What are the four stages of the product...Ch. 12 - Under what conditions does product modification...Ch. 12 - Why do products have to be deleted from a product...Ch. 12 - Why must firms introduce new products?Ch. 12 - What is the difference between manufacturer brands...Ch. 12 - What is the difference between a line extension...Ch. 12 - For what purposes is labeling used?Ch. 12 - Compare and contrast the characteristics of price...Ch. 12 - How might buyers perceptions of price influence...Ch. 12 - What are the five major categories of pricing...Ch. 12 - Identify and describe the main types of discounts...Ch. 12 - Some firms do not delete products until they...Ch. 12 - Under what conditions would a firm be most likely...Ch. 12 - Under what conditions would a business most likely...Ch. 12 - For what types of products are psychological...

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