Retailers typically use two basic pricing strategies. Explain the advantages of the two pricing strategies and provide examples for each type. When setting prices, what are some important factors that retailers must consider?
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- Retailers typically use two basic pricing strategies. Explain the advantages of the two pricing strategies and provide examples for each type. When setting prices, what are some important factors that retailers must consider?
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- What types of retailers often use a high/low pricing strategy? What types of retailers generally use an everyday low pricing strategy? How would customers likely react if a retailer switched its pricing strategy from one to the other?How can retailers create effective pricing strategies that balance profitability with customer value?What types of retailers often use a high/low pricing strategy? What types of retailers generally use an everyday low pricing strategy? How would customers likely react if a retailer switched its pricing strategy from one to the other? Explain your respond.
- Given that there is a serious disadvantage to cost-based pricing, how would you account for its widespread use in retailing and other businesses?What is psychological pricing, and how is it used by sellers? Give an exampleSellers pursue different strategies or approaches that affect the pricing of their products or services. Some sellers rely on internal cost structures to establish price, whereas others simply price at a level comparable to the competition. Explain five market driven pricing models providing examples for each model.
