Which pricing mix strategy should be used in relation to saleable scrap materials? How does this strategy function?
What will be an ideal response?
Producing products and services often generates by-products. If the by-products have no value and if getting rid of them is costly, this will affect the pricing of the main product. When using by-product pricing, a manufacturer can seek a market for scraps or by-products and accept any price that covers more than the cost of disposing of or storing and delivering the by-products. By-product pricing allows the seller to reduce the main product's price to make it more competitive.
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