Build or Maintain Image Increase Sales/Volume

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Presentation transcript:

Build or Maintain Image Increase Sales/Volume Pricing Goals Build or Maintain Image Maximize Profits Increase Sales/Volume Gaining Market Share

Pricing Strategies Demand-based Pricing: Competition-based Pricing: Most useful when consumers think your product/service is unique A ‘one-of-kind’ item What are people willing to pay Demand-based Pricing: Determine competitor’s price then decide: lower, higher, in-line Competition-based Pricing: Based on the cost of product/service then decide amount of profit desired Cost-based