In your neighborhood you notice a curious thing. On Wednesday night the local pub offers Ladies Night (all drinks for women at half-price) and the grocery store next door offers double coupon night for Senior Citizens. Fully discuss this pricing phenomena.
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Pricing strategies are used to develop market strategy, for instance, how the company is viewed in the marketplace. Pricing also helps to attract customers and can be manipulated in a manner to attract more of a certain type of customer. By doing this a company can maximize their profit, expand sales, and manipulate the environmental factors. In the case of special pricing based on certain attributes of customers price discrimination comes into play. Offering a different price to one channel of customer based on their gender, age, or other attribute is a way to manipulate and draw in a certain customer without lowering prices and suffering an overall margin drop. Marketers utilize these pricing strategies to attract ...
This solution discusses the pricing strategy of a bar offering Ladies Night, and a grocery store doubling coupons for senior citizens. It includes a full discussion as well as examples.