Some alternative pricing strategies a company could consider include cost-based pricing, value-based pricing, competitive pricing, penetration pricing, and price skimming. Cost-based pricing involves setting prices based on the costs of production. Value-based pricing involves setting prices based on the perceived value of the product or service to the customer. Competitive pricing involves setting prices based on what competitors are charging. Penetration pricing involves setting a low initial price to attract customers and gain market share. Price skimming involves setting a high initial price and then gradually lowering it over time.
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