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Pricing is part of an overall marketing strategy
used to persuade customers to buy a product

cost-plus pricing
a percentage mark-up is added to the total unit cost
of production to give a business its profit margin this
takes no account of variations
competitive pricing
a firm sets it price…

Page 2

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Highlights a products uniqueness e.g. new hi-tech
equipment is often given a high price as some people
will buy it as a luxury this enables the development
costs to be recovered later the price can be dropped
to attract a larger market
Price discrimination
This is where you can charge…




A brief summary of the various pricing strategies that could be adopted. Useful for the price part of the marketing mix.

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