Describe factors such as demographics, geographic , psychographics and others that influence product pricing. Also Explain the impact of external influences on marketing mix strategies and their impact on strategic marketing plans ? Indentify and explain the impact of external forces on marketing decisions.
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.”
Describe factors such as demographics, geographic , psychographics and others that influence product pricing. Also Explain the impact of external influences on marketing mix strategies and their impact on strategic marketing plans ?
Indentify and explain the impact of external forces on
Step by step
Solved in 2 steps