Pricing strategy?

Pricing strategy refers to the method used by businesses to set prices for their products or services. It involves analyzing various factors such as the cost of production, customer demand, competition, and market trends to determine the optimal price. A well-designed pricing strategy can help a business improve revenue, increase market share, and gain a competitive advantage. Pricing strategies can vary based on the company's overall goals and objectives, along with the type of products or services they offer. Some common pricing strategies include value-based pricing, cost-plus pricing, penetration pricing, and dynamic pricing.

This mind map was published on 3 May 2023 and has been viewed 90 times.