Pricing Strategies
- Created by: Izzie
- Created on: 02-03-18 16:58
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- Pricing Strategies
- The strategy chosen will depend on the market that the business is in
- The business may be more concerned with choosing the cheaper option
- A higher priced product may denote exclusivity & desirability
- Elements influencing the pricing strategy
- Number of USP's
- Price elasticity of demand
- Level of comp in business envt.
- Brand strength
- Stage in product life cycle
- Price Comparison Sites
- They're a driving force behind the rise of online retailing, providing more easily accessed info
- At a glance consumers can see the range, availability & prices of goods
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