Module 3 Assignment 2: Pricing Approaches/Strategies

Module 3 Assignment 2: Pricing Approaches/StrategiesOverview: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 strategyPenetration pricing strategyEveryday low pricesCost-plus pricingMarkupMarkdownsOdd-even pricingPrestige pricingPrice liningDemand backward pricingLeader pricingSealed bid pricingOnline auctionForward auctionReverse auctionGoing-rate pricingPrice bundlingCaptive pricingProduct mix pricingTwo-part pricingPayment pricingPromotional pricingPrice discriminationPrice adjustmentsQuantity discountsTrade allowances

3. Search online shopping websites to find examples of at least five (5) of the pricing approaches used above.
4. 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?
5. We will share these to a discussion board (so that classmates can see your examples), but you are not required to respond. You will need to post your examples before you will be able to see your classmates’)