Module 3 Assignment 2: Pricing Approaches/Strategies

Overview:

For this assignment, you will be doing an online scavenger hunt to find examples of different pricing strategies/approaches. You will post your findings on a shared discussion board so that you can see what your classmates found. (You will not need to respond to classmates). Please follow the specific instructions below.

Instructions:

1. When it comes to setting prices, companies have a variety of pricing approaches to utilize.
2. Consider the following pricing approaches/strategies:

Skimming price strategy	Penetration pricing strategy
Everyday low prices	Cost-plus pricing
Markup	Markdowns
Odd-even pricing	Prestige pricing
Price lining	Demand backward pricing
Leader pricing	Sealed bid pricing
Online auction	Forward auction
Reverse auction	Going-rate pricing
Price bundling	Captive pricing
Product mix pricing	Two-part pricing
Payment pricing	Promotional pricing
Price discrimination	Price adjustments
Quantity discounts	Trade allowances

1. Search online shopping websites to find examples of at least five (5) of the pricing approaches used above.
2. Create a post in the shared discussion board and include the following:
   1. Identify the product and website and the pricing approach/strategy that it utilizes.
   2. Provide a link to the website showing this strategy, and provide a brief description of how this strategy is used.
   3. Do you feel that their chosen strategy is effective?
   4. If you were the marketing manager, what other pricing strategies would you recommend?