Penetration Pricing, Setting a price really low initially to gain as much market share as possible, slowing raising the price throughout it's life cycle, Price Skimming, Setting the price really high to begin with to gain interest and recover high costs, slowing lowering the price throughout the lifecycle, Competitor Pricing, Taking the price of competitors into account, often setting the price the same as they do - maybe a little lower, maybe a little higher, Promotional Pricing, Creating various promotions like BOGOF or 2 for 1, usually to gain interest or sell off old stock, Cost-Plus Pricing, Working out the cost of a product / service and adding a 'markup'. For example, a product costing 50p to produce with a markup of 20% would be priced at 60p

2.4 Pricing Strategies

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