Price Strategies (incl methods)

The exchange value given to a product of service. 

A flexible marketing tool that fluctuates according to consumer response and tastes. 

Critical in determining revenue levels and number of sales; setting price must consider costs of production / delivery.

Price Strategies: Broad approach to gaining an edge in the market against competitors.

• Price Skimming

• Price Penetration

• Loss Leader

• Price Points

Price Methods: Once the strategy has been determined, the method for setting the exact price in a specific market context.