Question

Discuss and Implement the Price Adjustment Strategies in current market. Along with 3 examples.

Answer 1

Explanation:

Price Adjustment Strategy

Description

Discount and allowance pricing Reducing prices to reward customer responses such as paying early or promoting the product

Segmented pricing Adjusting

prices to allow for differences in customers, products or locations

Psychological pricing Adjusting prices for psychological effect

Promotional pricing Temporarily reducing prices to increase short-run sales

Geographical pricing Adjusting prices to account for the geographic location of customers

Dynamic pricing Adjusting prices continually to meet the characteristics and needs of individual customers and situations

International pricing Adjusting prices for international markets