Some effective pricing strategies include cost-plus pricing, competitive pricing, value-based pricing, and dynamic pricing. Cost-plus pricing involves adding a markup to the cost of goods and services to determine the selling price. Competitive pricing involves setting a price based on what the competition charges. Value-based pricing is determined by the estimated value of a product or service to the customer rather than the cost of the product or how competitors price their products. Dynamic pricing allows businesses to change prices based on market demand.
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