Differentiate between FOB origin and FOB destination pricing.

Q: Explain why product extension and refinement are important.

A: Product extension is the strategy of introducing new items in the same product category under the sa...

Q: Tried and True Clothing has opened four new stores in col-lege towns across the state. Data on month...

A: Labor Productivity means the hourly outcomes produced by laborers for an organization. It shows each...

Q: Identify and give examples of the three major types of salespersons.

A: Salespersons are individuals who sell products and services to people directly or indirectly. They s...

Q: Explain how you would determine customer satisfactionwith a bank, your university, a football game, ...

A: Customer Satisfaction is very important to measure as it improves the product or service. It can tel...

Q: Some new product launches fail and this leaves a negative impact on the profitability of the company...

A: SWOT Analysis is carried on in order to gain more insight from various points of view, that means th...

Q: Describe the different types of approaches tomarketing research, and indicate when each should beuse...

A: Marketing research is techniques to gather, analyze and store information about the business target ...

Q: Consumers are faced with purchase decisions nearly every day. But not all decisions are treated the ...

A: Consumers are faced with certain personal,psychological and physiological factors which constantly i...

Q: Sales management is the process of hiring, training and motivating sales staff, coordinating operati...

A: A sale is the main process of any business. It is the main activity under which the whole organizati...

Q: What is the key benefit for the retailer using groupon? A) getting customers in the door B) using di...

A: Groupon is an advertising platform that serves local markets. Businesses operate the groupon to nurt...

Q: Describe how a company produces, delivers, and sells a product or service to create wealth

A: A marketing concept is started from the planning process till the product is sold in the market. An ...

Q: How does BMW segment its consumers? What does BMW do well to market to each segment group?

A: Market segmentation is the process of dividing the market into homogeneous groups who have similar c...

Q: What is a line extension, and how does it differ from aproduct modification?

A: To deal with consumer behavior in the market, an organization uses various strategies and technology...

Q: Define marketing research and itsimportance to decision makers.

A: Marketing research is a systematic and an objective approach to gather, store and retrieve data abou...

Q: Which of the following companies is most likely to use nonprice competition rather than price compet...

A: Price competition takes place when two companies who produce products of similar nature compete with...

Q: Identify the four general types of organizational buying center cultures, and explain how these may ...

A: The buying center refers to the group of people in an organization who are responsible for taking th...

Q: What are some advantages and disadvantages of ADVERTISING as a marketing method?

A: Advertising is a paid form of communication in marketing which creates brand awareness about the pro...

Q: Identify and briefly explain the seven major phases ofthe new-product development process.

A: New product development is a step by step procedure of creating or introducing a new product in the ...

Q: A producer of home burglar alarm devices decides to start manufacturing portable video cameras for u...

A: In marketing, there are various strategies to understand the risks involved in the business and find...

Q: Why do we say that perceptions count more than reality, at least in the word of marketing?

A: In marketing, Perception is the awareness,opinions ,impressions that a customer has for a particular...

Q: A product’s life cycle is divided into four stages, including:a) introduction.b) growth.c) maturity....

A: It presents the phases of development and growth of the product in the business cycle. It provides t...

Q: If a company has $1 million to spend on a new strategy and is considering market development versus ...

A: Product development is the strategy which focuses on development of new products for an existing mar...

Q: Companies who take a mobile first approach to communication often develop websites that are designed...

A: The companies are focusing on providing the best user experience in order to establish a positive co...

Q: How would you adopt the elements of the process for engaging in sport marketing (known as the sport ...

A: Sports marketing are created to carry out the demands of the customers by the means of exchange proc...

Q: Explain the major components of branding,including brand types, branding strategies, andbrand protec...

A: Branding is a way through which organization communicate about their product and services with the t...

Q: Define the following concepts with example. Market Potential Sales Potential Market Share

A: A particular area where buyers and sellers come together to trade products and services is known as ...

Q: What is Content Marketing? Give an example of a firm that has used it well.

A: It is a methodological presentation of facts and information in a logical flow and well-structured f...

Q: The FCC was founded back in the 1930s and is still a functioning body today. Start by telling me wha...

A: FCC also is known as the Federal Communications Commission of USA is responsible for delivering comm...

Q: Many producers sell to consumers both directly and through middlemen. How can such a producer justif...

A: The marketing function of selling involves many intermediaries for transferring the reach of product...

Q: Describe the various methods for measuring the effectiveness of an e-commerce website.

A: E-commerce, as the name suggests, is a medium for electronically trading in goods and services. It i...

Q: Why do buyers involved in straight rebuy purchasesrequire less information than those making new-tas...

A: The past user experiences and perception regarding products play a dominant factor in information se...

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.”