Question

Discuss and Implement the Price Adjustment Strategies in current market. Apply each strategy with 3 examples along with picture.​

Answer 1

Answer:-

There are seven price adjustment strategies: Discount and allowance pricing, segmented pricing, psychological pricing, promotional pricing, geographical pricing, dynamic pricing and international pricing

The first one of the price adjustment strategies is applied in a large share of businesses. Especially in B2B, this price adjustment strategy is rather common. Most companies adjust their basic price to reward customers for certain responses, such as the early payment of bills, volume purchases and off-season buying.

Hope its helpful....!!

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Answer 2

Adjusting prices according to the customer and situation is the price adjustment process.

• The adjustment made in the prices of products according to the customers and situations is the price adjustment process.
• By adjusting the product prices each product will get the best price based on the present market situation.
• The main 7 categories that come under price adjustment types are " discount and allowance pricing, segmented pricing, Psychological pricing, promotional pricing, geographical pricing, dynamic pricing, and international pricing".
• Discount and allowance pricing: Putting discounts on products is the concept used in this strategy. For example, when a product shampoo has a 10%discount the chances are higher to buy that particular item.
• Segmented pricing: Pricing adjustment based on groups. For example, students and senior citizens have different prices to enter different areas like zoos, museums, etc.
• Psychological pricing: In this method, the customer is made to believe that a particular price is less. For example, if a product has 3.99$, but advertisements are made in order to make customers think that it is less than $4.
• Promotional pricing: By decreasing the price of a particular product for a short span is the concept used here.
• Geographical pricing:  In this type same type of product have different prices based on its selling locations.
• Dynamic pricing: Here a real-time pricing method is followed.
• International pricing: Based on a variety of factors adjusting and deciding a product's value in different countries is the strategy used here.

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