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 Max92.5k views 7 minutes readCompanies must adjust their basic prices to account for differences in customers and situations. There are seven price adjustment strategies: Discount and allowance pricing, segmented pricing, psychological pricing, promotional pricing,…
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New Product Pricing – Price Skimming or Penetration Pricing? – Pricing in the Introduction Stage
by Max35.6k views 0 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 Max26.6k 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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