Starts with a lower price to try and capture a share of the market and when it does it will slowly increase the price.
1 of 5
Skimming
Starts with a high price and then this is lowered as the product gets older.
2 of 5
Psychological Pricing
Pays attention to the affect that a price will have on the way a customer thinks.
3 of 5
Competitive Pricing
The Price is set according to the price of competitors products.
4 of 5
Cost Plus Pricing
This is where a business will add profit mark-up to the cost of marking the product COST + PRODUCTS. It is often used by small businesses as it is quick and easy but my not be very competitive.
5 of 5
Other cards in this set
Card 2
Front
Starts with a high price and then this is lowered as the product gets older.
Back
Skimming
Card 3
Front
Pays attention to the affect that a price will have on the way a customer thinks.
Back
Card 4
Front
The Price is set according to the price of competitors products.
Back
Card 5
Front
This is where a business will add profit mark-up to the cost of marking the product COST + PRODUCTS. It is often used by small businesses as it is quick and easy but my not be very competitive.
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