Definition of Price lining:
The process used by retailers of separating goods into cost categories in order to create various quality levels in the minds of consumers. Effective price lining by a business will usually involve putting sufficient price gaps between categories to inform prospective buyers of quality differentials.
The sale of a related range of products at different prices, each representing a distinct level of quality.
How to use Price lining in a sentence?
- You can sometimes come up with new ways to use price lining and they can help move your product much quicker.
- You should always know how to use price lining and figure out if there is a way to make it work for you.
- With price lining, a price floor and a price ceiling are set for each product category, and then selected price points are set within the range.
- The price lining technique was new to us, but we new that it meant that we would make a lot of money.
Meaning of Price lining & Price lining Definition