Audio Filename Script For Recording Essay
Audio Filename Script for Recording
PR01160.wav Consumers today are used to discounts and sales. Most people buy in large quantities only if the product is available on sale. Most supermarkets have sales on all the time, or have very small interval between sales.
Here are some types of discounts offered to customers: o Quantity discount: This type of discount is offered to bulk buyers. o Cumulative quantity discount: This is offered to buyers who purchase large quantities over a period of time, but do not place a large stand-alone order. o Seasonal discount: This is usually offered based on the time when the purchase is made or the service is used. For example, the travel industry offers discounts based on the time or day of travel, or the season.
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This strategy is applied in industries with one or two prominent companies. Thus, it’s also referred to as “follow the leader.”
The main advantage of competition-based pricing is that it’s easy to use, as extensive marketing research and statistical analysis are not required.
Some disadvantages of competition-based pricing are that: o It is difficult to know how the competitor is pricing the product; it may or may not be the best way. o The price can no longer be used as a variable in the marketing mix because the business no longer has control over it. o If the competitor’s product is not similar to your own, the price may not reflect the true value of the product. Additionally, it may not cover all of the costs to produce the product.
PR01210.wav Now, let’s talk about some common pricing mistakes small businesses make:
• Not having a strategy or not sticking to your
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