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Product Mix Pricing Strategies

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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?

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Solution Summary

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.

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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 ...

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