In many cases, companies must initiate either a price cut or a price increase. But initiating price changes should be done right to lead to success. Just initiating price changes…
Category:
Pricing
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Price Adjustment Strategies – Adjusting prices for different markets
by Max102.2K views 9 minutes readCompanies need to adjust their basic prices to account for differences in customers, market developments, and specific situations. This is done by price adjustment strategies, which we will explore in…
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New Product Pricing – Price Skimming or Penetration Pricing? – Pricing in the Introduction Stage
by Max37.1K views 1 minutes readPricing 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…
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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…
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3 Major Pricing Strategies – Customer Value-Based Pricing, Cost-Based Pricing, Competition-Based Pricing
by Max29.1K views 0 minutes readFor 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…
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