Title: Describe pricing methods used by businesses.
Course: Opportunities in Global Trade, Advanced (12056-II) > Section: Analyzing Pricing and Payments in the International Marketing Plan

Description should include

- markup pricing
- new product pricing (competitive pricing, skim pricing, penetration pricing)
- psychological pricing (promotional pricing, odd-even pricing, prestige pricing, price lining)
- discount pricing (seasonal, cash, quantity, trade).

Process/Skill Questions:

- When does competitive pricing hurt the company selling the new product?
- Under what circumstances might a company decide to offer a discount?
- What method of psychological pricing is most effective in getting you to make a purchase?
- Which psychological pricing strategy is used to give the customer the impression of better quality? Better price?
- Why would it be beneficial for a business to use price lining when it has a wide range of income levels for the buyers of its products?