A approach often changes prices based on time, day, week, or seas standard markup pricing target return on investment pricing skimming pricing yield management pricing bundle pricing According to the price equation, a product's or service's final price equals its list price minus incentives and allowances plus taxes. trade-ins. profits. extra fees. commissions. Question 3 (Mandatory) (1 point) Consumers buy water and soda from vending machines. Traditionally, the price of each of these products is about $1,25. If a marketer charges a significantly higher price for such products dispensed by vending machines, such as $2.00 per item, sales are likely to decline. Thus marketers tend to be very consistent in the prices they charge for vending machine products. This is an example of marketers employing a strategy. loss-leader pricing penetration pricing below-market pricing skimming pricing customary pricing If you were to buy one peach tree and one apple tree from the Stark Bros. fruit trees and landscaping catalog in two separate orders, you would pay a total of $109.99. However, if you order the peach and apple tree in the same order, you pay only \$89.99. When selling the two trees together for a reduced price, what pricing strategy does Stark Bros. employ? price lining discount pricing bundle pricing product line pricing prestige pricing Question 5 (Mandatory) (1 point) Odd-even pricing refers to setting prices one way for product lines and another way for individual brands. adding a fixed percentage to the cost of all items in a specific product class. setting prices a few dollars or cents under an even number. setting prices of luxury items at even price points and setting the price of necessities at odd price points. setting prices a few dollars or cents under an odd number. Rather than billing clients by the hour, some lawyers and their clients agree on a fixed fee based on expected costs plus an agreed upon level of profit for the law firm. Which pricing approach are they using? customary pricing cost-plus pricing target pricing experience curve pricing bundle pricing Question 7 (Mandatory) (1 point) Setting the highest initial price that customers really desiring the product are willing to pay when introducing a new or innovative product is referred to as a skimming strategy. experience-curve pricing strategy. penetration strategy. prestige pricing strategy. price-lining strategy