Pricing and non pricing strategies
- Created by: Tash5151
- Created on: 31-05-16 21:16
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- Evaluate pricing and non-pricing strategies to
increase profit/revenue
- Branding
- Eval: takes a long time to develop a strong brand image
- Advertising
- Expensive and no guarantee of success
- Price discrimination
- Eval: depends on how elastic the product is
- Loss leader
- Eval: profit increase has to be more than the money lost from the loss leader
- Predatory pricing
- Eval: profits are only made in the LR
- Profit maximisation
- Eval: depends on the market structure e.g. perefect competitiion firms cant make abnormal profit in LR
- Branding
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