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SBE 9.0 Pricing Strategies and Techniques

Competition orientedsetting a price based on what competitors charge
Cost plus pricingcosts plus standard markup for individual products/services
Skimmingsetting a high price due to demand for a new product
Penetration pricingsetting an initial low price for a new product to encourage purchases
Profit marginthe extra which is added to the cost to ensure money is made
Loss leaderprices set below cost to entice people into stores
Promotional pricingDesigned to increase sales in the short term
Demand oriented pricingUsed with products that have inelastic demand
Markup PricingAdds a predetermined percentage to the cost of the product
Fixed pricingOne-Price Policy
Variable PricingFlexible-Price Policy
Unit PricingPrice of product per unit of standard measure
Price LiningUsed for economy, standard and luxury models
Prestige PricingEquate high price with high quality

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