What is an example of price lining?
Price lining is a cost-centered strategy where you differentiate members of a product line based on price and features. Apple, for example, offers several current models of iPhone and iPad at different prices, distinguished by the added features of the more expensive models.Click to see full answer. In respect to this, what is the definition…
Price lining is a cost-centered strategy where you differentiate members of a product line based on price and features. Apple, for example, offers several current models of iPhone and iPad at different prices, distinguished by the added features of the more expensive models.Click to see full answer. In respect to this, what is the definition of price lining?Price lining, also referred to as product line pricing, is a marketing process wherein products or services within a specific group are set at different price points. The higher the price, the higher the perceived quality to the consumer.Also, what is an example of promotional pricing? promotional pricing. The act of offering a lower price temporarily in order to enhance the effectiveness of product sales efforts to cost sensitive consumers. For example, many businesses will offer promotional pricing as a sales incentive when initially launching a particular product line to potential consumers. Subsequently, one may also ask, what is product line pricing with example? Selling a product at or below cost to lure customers in and drive other sales is an example of product-line pricing. A restaurant, for example, might offer a low-priced entrée with the purchase of a drink and dessert that have higher profit margins.What is a customary price?A method of determining the price for a good or service based on the perceived expectations of customers. Customary pricing is generally used for products with a relatively long market history of being sold for a particular amount, and is driven by intuitive notions of value on the part of buyers.
