Pricing Strategies
About Pricing Strategies
Pricing
strategy refers to the method companies use to price their products or
services. Almost all companies, large or small, base the price of their
products and services on production, labor, and advertising expenses and
then add on a certain percentage so they can make a profit. There are
several different pricing strategies, such as penetration pricing, price
skimming, discount pricing, product life cycle pricing, and even
competitive pricing.
Why is Pricing Strategies important?
Importance of Pricing
• Flexible Element of Marketing Mix
• Determine the Profitability
• Price Creates First Impression
• Vital Element of Sales Promotion
• Effect of Price on Profit Margins
• Effect of Price on Sales Volumes
• Market Share and Competition
• Price and Business Positioning
Who should take the Pricing Strategies Exam?
• Sales or marketing professionals
• Business owners or Entrepreneurs
• Innovators
• Anyone who wants to assess their pricing skills
• Sales or Marketing managers and senior executives
• Recruitment consultants
• Anyone interested in pricing
Pricing Strategies Certification Course Outline
1. Demand Curve and Pricing Basics
2. Pricing Simulation
3. Price Discrimination