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State the term Premium Pricing briefly?
Premium Pricing:
This price strategy applied to various version of to similar product. It is a better version and a fundamental or standard model. For standard model the potential buyers are not, when economic of scale exists this is unprofitable for the firm to limit its activities to one of the two market segments the suits solution is to exploit jointely economic of scale and heterogeneity of demand through covering the two segments the lower end of the market along with a low price and the high ending along with a premium price. For example: Airlines have used such strategy. Their market comprises both a price insensitive business traveller and an extremely price sensitive holiday traveler.
Features of Marketing Information System: 1. Data are regularly collected. They are contionously updated as environmental conditions change. 2. The data are converted into
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Affordability Based Pricing : The affordability based pricing is relevant in regard of necessary commodities, which meet the basic requirement of all sections of peop
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