Some traits of pricing are:
- It establishes structured pricing ranges across competing alternatives so buyers assess where the product fits in terms of value.
- It establishes a clear monetary benchmark within each product line so buyers develop an idea of how much they should expect to pay.
- It presents a clear pricing identity across similar product groups so buyers review differences among the choices available to them.
- It directs income distribution across various product lines so buyers assess if the stated price reflects reasonable value.
- It positions the offering’s price relative to rival strategies so buyers assess how well the product fits their expectations.
Also know more about characteristics of pricing to get more information.