Question

Go online to a shopping site you use regularly and note the prices for different types...

Go online to a shopping site you use regularly and note the prices for different types of products. Does this firm use psychological pricing? Product line pricing? Note any pricing strategies you can identify. Do any of these strategies make you prefer the site over a competitor’s site?

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Answer #1

Online sites use product line pricing along with psycological pricing. For example if we go to a site and select some mobiles and their accessories, they display them lowest prices to highest or vice versa. They put discounts like a bunch of products just for Rs 999. This automatically attracts customers as they get psycologically attracted to the offer. Whenw e go to this site and compare th eprices with competitors , we find that th eprices are attractive and we have more offers. This makes us go with the site we prefer rather than the competitor. Hence the strategies used by the sites will have impact on customers and get them more business .

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