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These pricing strategies align with the overall business strategy of a company in various ways. Cost-Plus Pricing is used when a company wants to ensure they cover their costs and achieve a certain profit margin. Competitive Pricing is used when a company wants to position itself in line with its competitors. Value-based Pricing is used when a company believes their product or service has unique features or benefits that customers are willing to pay more for. Price Skimming is used when a company wants to maximize profits in the early stages of a product's life cycle and then decrease the price to attract more price-sensitive customers. Penetration Pricing is used when a company wants to enter a competitive market by offering lower prices initially and then increasing them over time.
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Cost-Plus Pricing – the process of simply calculating your costs and adding a mark-up. Competitive Pricing – the process of setting a price based on what the competitors' prices. Value-based Pricing – the process of setting a price based on the customer's price expectations. Price Skimming – the process of setting a higher price and bringing it down as the market evolves. Penetration Pricing – the process of setting a lower price to enter a competitive market and rising it with time.
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Take the most advantageous pricing approach to increase profitability of your organization. Use our Pricing Strategies presentation to outline factors...
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