Pricing Strategy Assignment Help
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What do you mean by Pricing Strategy?
Pricing strategies are strategies that are specifically used in for selling a product or even a service. There are various measures that are taken into account before setting the price for a particular product or a service and also the profit maximization is calculated which tells whether or not the price makers are able to produce enough money for the corporation or not. Pricing is also a very important component of the entire marketing mix and it is one of the high demanded components. A price setting always sets a standard for the customers to buy their services and/or products. As the internet media is increasing day-by-day, the prices can also be compared online. Customers have become more and more selective with the products they buy based on the amount and their needs.
What are the various strategies of pricing?
There are a lot of strategies that are in practice for the pricing technique:
- Decoy pricing
- High-Low pricing
- Loss leader
- Odd pricing
- Value based pricing
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