After having presented the three major pricing strategies, let’s take a look at the first and most used one: Customer value-based pricing. Customer value-based pricing is considered to be the best pricing strategy, at least from a marketer’s point of view. Why?
For every product, the company has to choose a price. But determining the price can take many ways. Most importantly, it should follow a predetermined strategy. 3 major pricing strategies can be identified: Customer value-based pricing, cost-based pricing and competition-based pricing. Which one should you select? We explain the 3 […]
How to create a marketing plan? Actually, every business needs one. But few are able to tell you what exactly a marketing plan should consist of. Therefore, we give you an overview about how to create a marketing plan: Just follow these 8 simple steps. Will take you more than […]
How to write a good marketing plan? This question could be asked by a marketing student, by a company founder, or by a marketing executive. If you need an answer on how to write a good marketing plan, here you’ll find five. In the following, we will present 5 truly […]
The price is a critical element of the marketing mix. But: What is a price? Let’s take a look at the definition of price. In the narrowest sense, price is the amount of money charged for a product or a service. But there must be more than that. What is […]
The Product Life Cycle contains five distinct stages. For the four stages introduction, growth, maturity and decline, we can identify specific product life cycle strategies. These are based on the characteristics of each PLC stage. Which product life cycle strategies should be applied in each stage is crucial to know in […]