Question

What are the strategies of pricing?

Answer 1

A business can use a variety of pricing strategies when selling a product or service. The price can be set to maximize profitability for each unit sold or from the market overall. It can be used to defend an existing market from new entrants, to increase market share within a market or to enter a new market. 

Answer 2

Explanation:

A business can use a variety of pricing strategies when selling a product or service. To determine the most effective pricing strategy for a company, senior executives need to first identify the company's pricing position, pricing segment, pricing capability and their competitive pricing reaction strategy

Types of Pricing Strategies

Competition-Based Pricing.

Cost-Plus Pricing.

Dynamic Pricing.

Freemium Pricing.

High-Low Pricing.

Hourly Pricing.

Skimming Pricing.

Penetration Pricing.