Pricing policies

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Pricing policies

  1. 1. Pricing Policies Mitch Lindsey
  2. 2. Flexible-Price Policy• This is a policy where customers pay different prices for the same type or amount of merchandises.• For example almost all goods that you can buy are under this policy.
  3. 3. One-Price Policy• This is where all customers are charged the same price for all the goods and services offered for sale.• For example rent
  4. 4. Prestige Pricing• Is giving a product a high price to convey the idea that it is a high-end product.• For example designer clothing.
  5. 5. Odd/Even Pricing• A psychological pricing method used to get customers to buy a product by simply lessening the amount a few cents and giving it an odd amount.• For example $99.99 instead of $100
  6. 6. Price Lining• This is a method used by retailers to group certain price ranges together, and keeping the most expensive group further away from the cheapest group.• For example the most expensive product will be in the back of the store or on the top tow of shelves at a store. Cheaper products will be in the front or bottom shelves of a store.
  7. 7. Promotional Pricing• When a new product is available for sale some retailers offer it at a higher or lower price for a short time to increase sales.• For example new shoes cost $150, but after a few months the same shoes can cost $80.
  8. 8. Multiple-Unit Pricing• Is used to set a single price for two or more units of the same product to make the consumer feel they are gaining more by buying more.• For example buy 3 candy bars for $2
  9. 9. Bundle Pricing• This is combining several products and offering the bundle at a reduced price. This strategy can be effective at selling product accessories that customers would not buy outside the bundle.• For example Cable Companies use it to persuade customers into buying premium movie channels.

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