What is Product Mix Pricing in Marketing?

Learn Product Mix Pricing definition in marketing with explanation to study “What is Product Mix Pricing”. Study product mix pricing explanation with marketing terms to review marketing course for online MBA programs.

Product Mix Pricing Definition

  • Firm searches for a set of prices that maximizes profits on the total mix.

    Principles of Marketing by Philip T. Kotler, Gary Armstrong

Product Mix Pricing Explanation

Most items are a piece of a more extensive item blend. Therefore, they should be valued in like manner. Item Mix Pricing Strategies address this issue. We will clarify the essential item blend estimating methodologies that change an item's valuing when it is a piece of an item blend. Discretionary item estimating is the evaluating of discretionary or embellishment items alongside a principle item. Much of the time, you can purchase discretionary or adornment items alongside the fundamental item. We discuss hostage item evaluating when organizations make item that must be utilized alongside the primary item. Despite what might be expected, in discretionary item evaluating, we should consider items that can be purchased/sold with the principle item. Side-effect estimating alludes to setting a cost for results to make the fundamental item's value increasingly focused. It is the aftereffect of the way that delivering items and administrations regularly creates side-effects.

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