Description should include, but not be limited to,
- markup pricing
- new product pricing (competitive pricing, skim pricing, penetration pricing)
- psychological pricing (promotional pricing, odd-even pricing, prestige pricing, price lining)
- discount pricing (seasonal, cash, quantity, trade).
Process/Skill Questions:
- When does competitive pricing hurt the company selling the new product?
- When might a company decide to offer a discount?
- What method of psychological pricing is most effective in getting you to make a purchase?
- Which psychological pricing strategy is used to give the customer the impression of better quality? Better price?
- Why would it be beneficial for a business to use price lining when it has a wide range of income levels for the buyers of its products?