Textile Designer With 1 Year Exp. In Fashion Indus

PRICING STRATEGIES 1. Cost lie terms: implemented by carefully determining exclusively of the speak tos associated with carrying a desolate and selling it to consumers then adding the desired profit to arrive at a selling price. a. Mark-up determine 1) utilise primarily by wholesalers and retailers (organizations that debase for resale) 2) Simply adds a preset region to the cost of products 3) This percentage is usually applied to all products carried by the argument b. Cost-plus pricing 1) utilize by manu itemurers and service organizations 2) Examines cost for individual products or work then adds a received mark-up 3) This scheme is more modify than mark-up pricing due to the fact that products and services are fancyed each rather than a predetermined percentage being added crossways the board to the cost of all products and services 2. Demand oriented pricing a. closely utile when se lling products with in springy demand b. Requires price planners to estimate the push customers place on products and set prices accordingly c. When selling products with elastic demand, an wrong estimation can undermine the success of a business 3. emulation oriented pricing a.

All price planners implement rival oriented pricing to some degree. It would be short-sighted not to examine the competition when setting price b. This strategy is unique in that it does not consider costs and expenses or profit goals in the process 4. Psychological pricing 1. apply by o rganizations that believe that customers bas! e their perceptions of products on price and that these perceptions protest customer buying decisions a. Odd/even cent pricing: based on the principle that prices ending in gay numbers ($5.99) communicate a bargain and prices ending in even numbers ($6.00) communicate quality. This technique is widely use by retailers b. Prestige pricing:...If you want to get a full essay, order it on our website: OrderCustomPaper.com

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