is the exchange value of a product. It is the amount of money or other products needed to acquire a product.

(a)  

The most elementary pricing method is to add a standard markup to the product's cost.

(a)  

The firm determines the price that would yield its target rate of return on investiment (ROI).

(a)  

An increasing number of companies are basing their price on the product's perceived value. They see the buyer's perception of value, not the seller's cost, as the key to pricing

(a)  

says that the price should represent a high-value offer to consumers.

(a)  

the firm pays less attention to its own costs or demand and bases its price largely on competitor's price.

(a)  

Competition-oriented pricing is common where firms submit sealed bids for jobs. The firm bases is price on expectations of how competitors will price rather than on a rigid relation to the firm's costs or demand.

(a)  

Use a high price where there is a unique brand. This approach is used where a substantial competitive advantage exists and the marketer is safe in the knowledge that they can charge a relatively higher price.

(a)  

The price charged for products and services is set artificially low in order to gain market share. Once this is achieved, the price is increased

(a)  

Supermarkets often have economy brands for soups, spaghetti, etc. Budget airlines are famous for keeping their overheads as low as possible and then giving the consumer a relatively lower price to fill an aircraft

(a)  

is a pricing strategy that involves setting a high price before other competitors come into the market.

(a)  

This approach is used when the marketer wants the consumer to respond on an emotional, rather than rational basis.

(a)  

Where there is a range of products or services the pricing reflects the benefits of parts of the range.

(a)  

Companies will attempt to increase the amount customers spend once they start to buy

(a)  

Where products have complements, companies will charge a premium price since the consumer has no choice.

(a)  

Here sellers combine several products in the same package.

(a)  

Pricing to promote a product is a very common application. There are many examples of (a)   pricing including approaches such as BOGOF (Buy One Get One Free), money off vouchers and discounts.

pricing sees variations in price in different parts of the world,

(a)  

are quite varied. The government sector, with its courts, employment services, hospitals, loan agencies, military services, police and fire departments, post office, regulatory agencies, and schools, is in the service business

(a)  

Perhaps of all the suggested special characteristics of service products, this is one of the most difficult to appreciate.

(a)  

Physical products in the store are widely displayed for customers to see, feel, touch, weigh or sniff at before deciding whether or not to buy.

(a)  

In the production and marketing of physical products. companies have increasingly paid special attention to ensuring consistency in quality, feature, packaging, and 50 on

(a)  

A key distinguishing feature of service marketing is that the service provixion and provider are inseparable from the service consumption and consumer.

(a)  

-means exporting goods to other countries of the world. It involves lengthy procedure and formalities

-is more complicated to domestic marketing due to international restrictions, global competition, lengthy procedures and formalities and so on.

-promotes economic/business/industrial development, to earn foreign exchange and ensures optimum utilization of available resources.

(a)