pricing methods


Think about the pricing methods described in chapter 14—markup pricing, target-return pricing, perceived-value pricing, value pricing, going-rate pricing, and auction-type pricing. As a consumer, which do you prefer to deal with? Why? If the average price were to stay the same, which would you prefer a firm to do: (1) set one price and not deviate or (2) employ slightly higher prices most of the year but offer slightly discounted prices or specials for certain occasions? (at least 200 words)

Preview of the answer..

As a consumer, the best pricing method is the value pricing. Under this method, the price of a product or service is usually determined by benefits customers obtain from it. This is the best pricing strategy as customers are in a position to get the value for their money. Under this strategy, firms are likely to come up with high quality goods in order to get the market. In this situation, customers will end up as beneficiaries as they will have access to high quality goods, hence improved quality of life (Baker, 2011). Furthermore..

APA 239 words

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