1. discount and allowance pricing - they are used to promote sales, reduce inventory, and reward or
encourage behaviors that benefit the issuer of the discount or allowance.They can be applied anywhere in the distribution channel between the manufacturer and middlemen
2. psychological pricing - By pricing products strategically, a company may increase sales without
significantly reducing prices. In some cases, a higher price is actually
more likely to increase sales. Consider several factors in crafting a
psychological pricing strategy to get the best results.
3. promotional pricing - to attract attention to a product, brand or retailer. The idea is to
use the appeal of low cost to let consumers know that a seller, label or
item exists. Those who use the technique believe that brand or company
loyalty cannot develop until this consumer awareness grows. Loyalty is a
goal because it means repeat business and a subsequent increase in
revenue and profit. This translates to remaining competitive in the
Jun 1st, 2015
Did you know? You can earn $20 for every friend you invite to Studypool!