Could you explain each of the product mix pricing strategies-product line pricing, optical product pricing,captive-product pricing, by-product pricing, product bundle pricing?© BrainMass Inc. brainmass.com December 24, 2021, 4:54 pm ad1c9bdddf
Product line pricing is the establishing of prices for all items in a product line. Companies normally develop product lines rather than single products and introduce price steps. In many lines of trade, sellers use well-established price points for the products in their line. For example a men's clothing store might carry suits at 3 levels--$300, $500 and $750. Customers consequently will associate low, average, and high quality suits with three price points. The seller's task is to establish perceived quality differences that justify the price ...
This solution looks at product mix pricing strategies, focusing on product line pricing, optical product pricing, captive-product pricing, by-product pricing and product bundle pricing. Definitions and explanations of each are provided.