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Competitive pricing can have several implications on market competition. It can lead to a price war where competitors continuously lower their prices to attract customers. This can result in thin profit margins. On the positive side, it can lead to better products and services as businesses strive to offer more value to justify their prices. It can also lead to a more balanced market where no single business can monopolize due to price advantage.
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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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