Types of Tensile Pricing
Retailers can do tensile pricing strategies in two ways that are monetary and non-monetary promotion strategies. They both have different applications and motives behind the strategy.
Monetary promotion strategy: – In monetary promotion strategy, the brand/product is being promoted by giving a discount or rebate on the product’s price. For example: “Save up to
20
%
20%”, ”
50
%
50% off”. Hence, the customer gets a monetary concession on the product’s price which induces them to buy the product. The main motive behind this strategy is to induce customers to try this particular brand/product or make customers buy a completely new brand and build trust in this brand.
image
Non-Monetary promotion strategy: – In a non-monetary promotion strategy, retailers promote a product in a “one plus one” manner. For example: “Buy 1 Get 1 free”. Hence, in this strategy, customers get double or more of the product at the same price. The main motive behind this strategy is to increase the sales of the product or finish the stock that is facing no demand in the market to increase the life of the product.
Variation in Monetary Promotion Strategy
There could be various variations in monetary promotion strategy. Retailers could give the concession in different ways, and results to those may differ accordingly. The consumer behavior may differ in all the cases:-
Minimum discount price: In this price variation, the discount price is exaggerated on the lower side of the discount offer. For example: “save X% or more,” “save 20% or more” with this, the retailer is setting a benchmark for saving at least X% of rebate on the price of the product and also allows to save more.
Range discount: In this price variation, where the discount price is offered in a range. For example: “save up to X%-Y%,” “Save up to 20%-60%”, with this the retailer gives the highest range of discount prices. Consumers tend to get more attracted to the maximized range of the discount, as the consumer wants to have a maximized discount offered by the retailers. This kind of promotion strategy works better than the minimum discount price strategy.
image
Maximum discount: In this price discount, retailers offer the maximum price discount to attract customers. For example: “save up to Y%,” save up to 60%”, with the retailer exaggerates the more of maximized price discount. However, the consumer ignored the low discount price offerings in this case as the retailer advertised the offering in such a way that consumers get attracted by the highest range discount price. This kind of price variation is more impactful than the other two.
Advantages of Tensile Pricing
The promotional technique of tensile pricing is very old but effective; many companies and stores still use this type of promotional technique to increase quick sales. This technique not just helps in the increase of sales and profits but have other benefits also, such as:
Brand switching: As the customer gets attracted by the discount’s offerings, they buy that product; by this action, they try the new brand of product that they have been using for so long of some other product. Hence, they get an opportunity to compare both brands in terms of quality, quantity, packaging, and cost. This allows the company to introduce a completely new brand to the customer and the market or make the customer permanent consumers of their product.
Loyal customer: Most customers are cost-effective; they get attracted to such offerings because of this nature. With this, they switch their brands and use that cost-effective product for a while. But with these great offerings, companies often get their loyal customers.
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You determine when you get the paper by setting the deadline when placing the order. All papers are delivered within the deadline. We are well aware that we operate in a time-sensitive industry. As such, we have laid out strategies to ensure that the client receives the paper on time and they never miss the deadline. We understand that papers that are submitted late have some points deducted. We do not want you to miss any points due to late submission. We work on beating deadlines by huge margins in order to ensure that you have ample time to review the paper before you submit it.
We have a privacy and confidentiality policy that guides our work. We NEVER share any customer information with third parties. Noone will ever know that you used our assignment help services. It’s only between you and us. We are bound by our policies to protect the customer’s identity and information. All your information, such as your names, phone number, email, order information, and so on, are protected. We have robust security systems that ensure that your data is protected. Hacking our systems is close to impossible, and it has never happened.
You fill all the paper instructions in the order form. Make sure you include all the helpful materials so that our academic writers can deliver the perfect paper. It will also help to eliminate unnecessary revisions.
Proceed to pay for the paper so that it can be assigned to one of our expert academic writers. The paper subject is matched with the writer’s area of specialization.
You communicate with the writer and know about the progress of the paper. The client can ask the writer for drafts of the paper. The client can upload extra material and include additional instructions from the lecturer. Receive a paper.
The paper is sent to your email and uploaded to your personal account. You also get a plagiarism report attached to your paper.
PLACE THIS ORDER OR A SIMILAR ORDER WITH US TODAY AND GET A PERFECT SCORE!!!
Types of Tensile Pricing
Retailers can do tensile pricing strategies in two ways that are monetary and . They both have different applications and motives behind the strategy.
: – In monetary promotion strategy, the brand/product is being promoted by giving a discount or rebate on the product’s price. For example: “Save up to
20
%
20%”, ”
50
%
50% off”. Hence, the customer gets a monetary concession on the product’s price which induces them to buy the product. The main motive behind this strategy is to induce customers to try this particular brand/product or make customers buy a completely new brand and build trust in this brand.
image
Non-Monetary promotion strategy: – In a , retailers promote a product in a “one plus one” manner. For example: “Buy 1 Get 1 free”. Hence, in this strategy, customers get double or more of the product at the same price. The main motive behind this strategy is to increase the sales of the product or finish the stock that is facing no demand in the market to increase the life of the product.
Variation in
There could be various variations in monetary promotion strategy. Retailers could give the concession in different ways, and results to those may differ accordingly. The consumer behavior may differ in all the cases:-
Minimum discount price: In this price variation, the discount price is exaggerated on the lower side of the discount offer. For example: “save X% or more,” “save 20% or more” with this, the retailer is setting a benchmark for saving at least X% of rebate on the price of the product and also allows to save more.
Range discount: In this price variation, where the discount price is offered in a range. For example: “save up to X%-Y%,” “Save up to 20%-60%”, with this the retailer gives the highest range of discount prices. Consumers tend to get more attracted to the maximized range of the discount, as the consumer wants to have a maximized discount offered by the retailers. This kind of promotion strategy works better than the minimum discount price strategy.
image
Maximum discount: In this price discount, retailers offer the maximum price discount to attract customers. For example: “save up to Y%,” save up to 60%”, with the retailer exaggerates the more of maximized price discount. However, the consumer ignored the low discount price offerings in this case as the retailer advertised the offering in such a way that consumers get attracted by the highest range discount price. This kind of price variation is more impactful than the other two.
Advantages of Tensile Pricing
The promotional technique of tensile pricing is very old but effective; many companies and stores still use this type of promotional technique to increase quick sales. This technique not just helps in the increase of sales and profits but have other benefits also, such as:
Brand switching: As the customer gets attracted by the discounts offerings, they buy that product; by this action, they try the new brand of product that they have been using for so long of some other product. Hence, they get an opportunity to compare both brands in terms of quality, quantity, packaging, and cost. This allows the company to introduce a completely new brand to the customer and the market or make the customer permanent consumers of their product.
Loyal customer: Most customers are cost-effective; they get attracted to such offerings because of this nature. With this, they switch their brands and use that cost-effective product for a while. But with these great offerings, companies often get their loyal customers.
Are you busy and do not have time to handle your assignment? Are you scared that your paper will not make the grade? Do you have responsibilities that may hinder you from turning in your assignment on time? Are you tired and can barely handle your assignment? Are your grades inconsistent?
Whichever your reason is, it is valid! You can get professional academic help from our service at affordable rates. We have a team of professional academic writers who can handle all your assignments.
Students barely have time to read. We got you! Have your literature essay or book review written without having the hassle of reading the book. You can get your literature paper custom-written for you by our literature specialists.
Do you struggle with finance? No need to torture yourself if finance is not your cup of tea. You can order your finance paper from our academic writing service and get 100% original work from competent finance experts.
Computer science is a tough subject. Fortunately, our computer science experts are up to the match. No need to stress and have sleepless nights. Our academic writers will tackle all your computer science assignments and deliver them on time. Let us handle all your python, java, ruby, JavaScript, php , C+ assignments!
While psychology may be an interesting subject, you may lack sufficient time to handle your assignments. Don’t despair; by using our academic writing service, you can be assured of perfect grades. Moreover, your grades will be consistent.
Engineering is quite a demanding subject. Students face a lot of pressure and barely have enough time to do what they love to do. Our academic writing service got you covered! Our engineering specialists follow the paper instructions and ensure timely delivery of the paper.
In the nursing course, you may have difficulties with literature reviews, annotated bibliographies, critical essays, and other assignments. Our nursing assignment writers will offer you professional nursing paper help at low prices.
Truth be told, sociology papers can be quite exhausting. Our academic writing service relieves you of fatigue, pressure, and stress. You can relax and have peace of mind as our academic writers handle your sociology assignment.
We take pride in having some of the best business writers in the industry. Our business writers have a lot of experience in the field. They are reliable, and you can be assured of a high-grade paper. They are able to handle business papers of any subject, length, deadline, and difficulty!
We boast of having some of the most experienced statistics experts in the industry. Our statistics experts have diverse skills, expertise, and knowledge to handle any kind of assignment. They have access to all kinds of software to get your assignment done.
Writing a law essay may prove to be an insurmountable obstacle, especially when you need to know the peculiarities of the legislative framework. Take advantage of our top-notch law specialists and get superb grades and 100% satisfaction.
We have highlighted some of the most popular subjects we handle above. Those are just a tip of the iceberg. We deal in all academic disciplines since our writers are as diverse. They have been drawn from across all disciplines, and orders are assigned to those writers believed to be the best in the field. In a nutshell, there is no task we cannot handle; all you need to do is place your order with us. As long as your instructions are clear, just trust we shall deliver irrespective of the discipline.
Our essay writers are graduates with bachelor's, masters, Ph.D., and doctorate degrees in various subjects. The minimum requirement to be an essay writer with our essay writing service is to have a college degree. All our academic writers have a minimum of two years of academic writing. We have a stringent recruitment process to ensure that we get only the most competent essay writers in the industry. We also ensure that the writers are handsomely compensated for their value. The majority of our writers are native English speakers. As such, the fluency of language and grammar is impeccable.
There is a very low likelihood that you won’t like the paper.
Not at all. All papers are written from scratch. There is no way your tutor or instructor will realize that you did not write the paper yourself. In fact, we recommend using our assignment help services for consistent results.
We check all papers for plagiarism before we submit them. We use powerful plagiarism checking software such as SafeAssign, LopesWrite, and Turnitin. We also upload the plagiarism report so that you can review it. We understand that plagiarism is academic suicide. We would not take the risk of submitting plagiarized work and jeopardize your academic journey. Furthermore, we do not sell or use prewritten papers, and each paper is written from scratch.
You determine when you get the paper by setting the deadline when placing the order. All papers are delivered within the deadline. We are well aware that we operate in a time-sensitive industry. As such, we have laid out strategies to ensure that the client receives the paper on time and they never miss the deadline. We understand that papers that are submitted late have some points deducted. We do not want you to miss any points due to late submission. We work on beating deadlines by huge margins in order to ensure that you have ample time to review the paper before you submit it.
We have a privacy and confidentiality policy that guides our work. We NEVER share any customer information with third parties. Noone will ever know that you used our assignment help services. It’s only between you and us. We are bound by our policies to protect the customer’s identity and information. All your information, such as your names, phone number, email, order information, and so on, are protected. We have robust security systems that ensure that your data is protected. Hacking our systems is close to impossible, and it has never happened.
You fill all the paper instructions in the order form. Make sure you include all the helpful materials so that our academic writers can deliver the perfect paper. It will also help to eliminate unnecessary revisions.
Proceed to pay for the paper so that it can be assigned to one of our expert academic writers. The paper subject is matched with the writer’s area of specialization.
You communicate with the writer and know about the progress of the paper. The client can ask the writer for drafts of the paper. The client can upload extra material and include additional instructions from the lecturer. Receive a paper.
The paper is sent to your email and uploaded to your personal account. You also get a plagiarism report attached to your paper.
PLACE THIS ORDER OR A SIMILAR ORDER WITH US TODAY AND GET A PERFECT SCORE!!!
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