Advertisement Penetration pricing strategy. This strategy charges low price in the early stages of product introduction. Here, the lower price is charged in the initial period in order to break consumer resistance and make products acceptable. The price is raised gradually along with the growing popularity of...
Target-Return pricing Here, the firm determines the price that would fetch its target rate of return on investment. As per this method, the selling price can be determined by using the formula = Unit cost + For example, a manufacturer has invested Rs. 1,00,000 and is expecting...
Perceived Value Pricing Nowadays, companies have started pricing their products on the customers perceived value of the product. The perceived value depends on various factors like goodwill of the firm, buyer’s image of product performance, warranties provided, trustworthiness and esteem of the firm. Value Pricing Recently, several...
Going-Rate pricing Here the firm charges a price that is based on the price of the competitors. Sealed-Bid Pricing It is a competition oriented method of pricing. Here, the firms go for competitive bidding through sealed tenders or quotations. They seek the best (lowest possible) price consistent...
Cost plus pricing method/Mark up pricing method In this method, the selling price of the product is arrived at by adding a standard mark-up i.e. margin to the product’s cost. For example, if the total cost of production and distribution of product per unit is Rs. 75. and...
Uniform Customs and Practice for Documentary Credits (UCP) Most letters of credit are subject to UCP 500, which are the universally recognised set of rules governing the use of the documentary credits in international trade. UCP were originally formulated in 1933 by the International Chamber of Commerce (ICC)...
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