--%>
Assignment Help - homework help

What are the important pricing strategies

What are the important pricing strategies?

E

Expert

Verified

Given are the significant pricing strategies as follows:

1. Psychological pricing: Now there manufacturers fix their prices of a product in the way that this may create an impression on the mind of consumers as the prices are low. For example: Prices of Bata shoe as Rs.99.50. It is also termed as odd pricing.

2. Mark up pricing: Such method of pricing is followed by entire salers and retailers. While the goods are received, the retailers add a specific percentage of the entire saler’s price.

3. Administered pricing: Now there the pricing is done on the origin of managerial decisions and not on the basis of demand, cost and competition.

4. Other pricing strategies: There is geographical pricing, zone pricing, base point pricing, double pricing and product line pricing are several other pricing strategies.

   Related Questions in Managerial Economics

  • Q : Illustrates the Forward Planning in

    Does managerial economic as a tool for Forward Planning? Explain this term briefly.

    		•
  • Q : Profit Maximization with Marginal

    All profit-maximizing firms will hire further labor up to the point where is the: (w) average physical product of labor equals the nominal wage. (x) last unit of labor adds equally to total revenue and total cost. (y) marginal product of labor is at i

    		•
  • Q : Costs of firm by adding revenue in them

    When the last worker hired adds extra to the firm’s revenue in that case to the firm’s cost: (w) hiring the last worker causes profit to rise. (x) hiring the last worker causes profit to fall. (y) the firm should stop hiring workers. (z) m

    		•
  • Q : Illustrates the barometric pricing

    Illustrates the barometric pricing briefly?

    		•
  • Q : Trade types of cycle distinguished by

    What are the trade types of cycle distinguished by Schumpeter?

    		•
  • Q : What is social cost of production What

    What is social cost of production?

    		•
  • Q : Dominates substitution effect by wage

    The income effect of a small varies in the wage rate dominates the substitution effect for this worker at point: (w) point a. (x) point b. (y) point c. (z) point d.

    Q : Economic incidence of a tax imposing

    The economic incidence of a tax: (i) identical to its legal incidence. (ii) either forward-shifted to suppliers or backward-shifted to consumers. (iii) imposed on whoever suffers decreased purchasing power because of the tax. (iv) more easily found th

    		•
  • Q : State Extrapolation statistical Method

    States the Extrapolation statistical Method of Demand Forecasting?

    		•
  • Q : Estimate demand The Real Kool Toys

    The Real Kool Toys Company manufactures and sells educational toys. An empirical demand function for one of the firm's products has been estimated over the last 21 quarters using regression analysis. The estimated demand function is: QY = -8,000 - 5,000PY + 192A + 120I + 2,000PX (6,000) (1,000)

    		•