Answered: What are the major price implications…

What are the major price implications of the PIMS studies?Suggest possible explanations for the relationships the PIMSstudies reveal.

Contemporary Marketing

18th Edition

ISBN:9780357033777

Author:Louis E. Boone, David L. Kurtz

Publisher:Louis E. Boone, David L. Kurtz

Chapter14: Pricing Strategies

Section14.5: Price And Perception Of Quality

Problem 1LO

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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.”

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What are the major price implications of the PIMS studies?
Suggest possible explanations for the relationships the PIMS
studies reveal.

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