There is no shortage of pricing approaches, and as customers, we are exposed to all of them at some time or
another in our purchasing processes. Choose one of the pricing approaches discussed in the readings and discuss a product, the pricing approach, and why you think it is the most appropriate approach for that particular product given your consumer characteristics. Be sure you understand the definition of your approach before tackling this topic.
Many of you will be tempted to use promotional pricing since it is the easiest to demonstrate. So promotional pricing is not for sale (pun intended). Pick one of the other approaches for this topic.
The type of pricing approach chosen is loss leader pricing strategy where a product that is
priced below cost, or at a loss so that new customers can get attracted. One example of this
product is a…