Some firms have profit as a pricing objective, whereas others set prices forcustomer satisfaction. What are the major differences between these two?Which is better?
Some firms have profit as a pricing objective, whereas others set prices forcustomer satisfaction. What are the major differences between these two?Which is better?
Chapter20: Setting Prices
Section: Chapter Questions
Problem 2DRQ
Related questions
Concept explainers
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.”
Question
Some firms have profit as a pricing objective, whereas others set prices for
customer satisfaction. What are the major differences between these two?
Which is better?
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 2 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, marketing and related others by exploring similar questions and additional content below.