Pricing II

Pricing items in multiples, customers buy more units if they perceive a bargain

Prices ending in even numbers suggest higher quality

A high price to create a feeling of superiority of the product

Encourages early payment of invoices

Prices ending in odd numbers are perceived as bargains

Used to sell seasonal merchandise out of season

Temporarily offering lower prices to increase sales

Offering different prices based on specific features and qualities

The amount a customer is willing to pay for a product or service

Pricing that is determined by considering what competitors charge for a good or service

Price reductions granted by the manufacturer or wholesaler to buyers in the same trade

Offers customers a reduced price and encourages purchases

Techniques used in discount pricing include all of the following EXCEPT:

Offers lower prices based on the purchase of a larger quantity

Certain prices have an impact on how customers perceive a product