Pricing Strategies

HideShow resource information
Cost Plus Pricing
A cost based method of setting prices - business works out a % mark up to add to the total costs to chose price
1 of 6
Price Skimming
Pricing strategy in which market sets higher prices at first but this will decrease over time - as product gets older
2 of 6
Penetration Pricing
Starting off low price until market share grows then increase prices oncethey have a loyal customer base
3 of 6
Predatory Pricing
Pricing goods/services at a low price so competitors cannot compete and have to leave the market - prices may then increase again
4 of 6
Competitive Pricing
Setting a price based on what the competition is charging
5 of 6
Psychological Pricing
setting price on what the customers are willing to pay - e.g. if higher quality customers more willing to pay more
6 of 6

Other cards in this set

Card 2

Front

Price Skimming

Back

Pricing strategy in which market sets higher prices at first but this will decrease over time - as product gets older

Card 3

Front

Penetration Pricing

Back

Preview of the front of card 3

Card 4

Front

Predatory Pricing

Back

Preview of the front of card 4

Card 5

Front

Competitive Pricing

Back

Preview of the front of card 5
View more cards

Comments

No comments have yet been made

Similar Business Studies resources:

See all Business Studies resources »See all Marketing mix resources »