Marketing mix- Pricing
- Created by: ceryslynda
- Created on: 27-03-16 16:49
View mindmap
- Marketing mix- Pricing
- Price Skimming
- New products
- Initial high prices
- New technology especially
- Afterwards then dropped when the product is established
- Some customers may be put off at high prices
- Penetration pricing
- Launching product at low price
- Attract customers and gain market share
- Customers expect this price to continue
- Difficult to raise without losing customers
- Extension strategy
- Launching product at low price
- Factors affect pricing decisions
- Set to cover costs and make a profit
- Depends on elasticity of demand
- Stage of life cycle they are in
- Competitions pricing
- Other pricing strategies
- Competitive pricing
- Monitor competitors prices
- Pschological pricing
- .99 so think they are getting a better price
- Loss leaders
- products sold at or below cost price
- Competitive pricing
- Price Skimming
Comments
No comments have yet been made