Today I will talk about some of these types.
1-SKIMMING PRICE STRATEGY
A pricing strategy in which a new product is priced high to make optimum profit while there is little competition .
2-PENETRATION STRATEGY
A pricing strategy in which a product is priced low to attract more customers and discourage competitors.
3-EVERY DAY LOW PRICING (EDLP)
A pricing strategy where prices are set lower than others and don't have many special sales.
4-HIGH-LOW PRICING STRATEGY
This strategy has regular prices that are higher than at stores using (EDLP) but they have many special sales in which the prices are lower.
5-BUNDLING STRATEGY
Grouping two or more products together and pricing them as a unit.
6-PSYCHOLOGICAL PRICING (ODD PRICING
pricing goods and services at price points that make them appear less expensive than they are.
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