Using social media in marketing allows businesses to expand their reach to more customers. Your customers are interacting with brands through social media, therefore, having a strong social media marketing plan and …
Monthly Archives
August 2015
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Key Pricing StrategiesNew Product Pricing
New Product Pricing – Price Skimming or Penetration Pricing? – Pricing in the Introduction Stage
by MaxPricing strategies tend to change as a product goes through its product life cycle. One stage is particularly challenging: the introductory stage. This is called New Product Pricing. When companies …
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Cost-based Pricing is another approach to pricing. We have already learned about customer-value based pricing. Customer-value perceptions set the price ceiling: customers would not be willing to pay more. But …