Question

What are the problems with traditional pricing method in marketing?

Answer 1

Answer:

The problem with this is that you are not gaining any kind of profit. And if there is no profit, you won't have any money to put back in your business and you'll run into losses.

Or if your prices are the same as your competitors, customers may just carry on buying from your customers as there is nothing new. If your price are lower than your competitors you may attract customers, but once you increase them, the customers may resort back to their old and cheap products.

However, if you a set a higher price, with a USP them you may attract some customers