Skimming Price, When a companay launches a new product at a high price, as competition increases prices will gradually fall, Destroyer Pricing, A business sets its prices very low compared to competitors, once there is little or no competition the price goes back to the original or even higher, Psychological Pricing, It makes customers perceive the price of a product is lower than what it is, Penetration Pricing, The price is set slightly lower than competitors in order to gain entry into an established market, once customers have been established the price is increased to be the same as competitors, Promotional Pricing, A firm sets a low price for a short period of time in order to attract customers and boost sales, this is useful to get rid of leftover stock, Loss Leaders, A firm sells products at such a low price that they make a loss on them, however they hope to make a profit overall as they hope customers will buy other products from them, Cost Plus Pricing, A percentage of profit is added called a 'mark-up' to the actual cost of making the product to decide on the selling price, Premium Pricing, A product is sold at a high price and retains that price with the aim of giving the product the image of quality and exclusiveness.

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