Pricing Strategies

Pricing Strategies aimed at finding a product’s optimum price. It typically including overall marketing objectives, consumer demand, product attributes, competitors’ pricing, and market and economic trends. It takes into account segments, ability to pay, market conditions, competitor actions, trade margins and input costs, amongst others. Pricing Strategies is targeted at the defined customers and against competitors. It can be used to defend an existing market from new entrants, to increase market share within a market or to enter a new market.