Asked by Victoria Konko on May 12, 2024
Verified
At Marco's Men's Store, all ties are priced at one of three different price points: $16.95, $24.95, and $33.95. This is an example of what type of pricing tactic?
A) price lining
B) prestige pricing
C) reference pricing
D) odd pricing
Price Lining
Grouping product prices into ranges, such as low-, medium-, and high-priced items.
Pricing Tactic
Strategic approaches used to set prices for products or services to achieve business objectives.
Prestige Pricing
Psychological pricing strategy used with goods whose quality is difficult to determine by inspection or for products about which consumers have little solid information.
- Compare different pricing strategies and their applications.
Verified Answer
Learning Objectives
- Compare different pricing strategies and their applications.
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