The art of clever pricing
By ymahfooz on 28 Jul 2015
Pricing is a key element in revenue generation, and often considered the most important marketing mix element, as it is the easiest and fastest to change. It is also among the most complex decisions in the strategic marketing plan as a small pricing error can nullify other marketing activities. It is also among the most interesting and companies keep on experimenting with newer strategies to make money, yet keep the customer happy (and confused). Other than the regular pricing strategies, there are few clever ones which we come across very often- B1G1, Loss Leader, Decoy, Odd-Even. 9 of these are explained in this interesting article published in Adweek on August 6, 2014.
http://www.adweek.com/adfreak/9-subtle-marketing-tricks-we-fall-every-time-we-shop-159332