What is a pricing strategy?

Pricing strategy is the tactic that company use to increase sales and maximize profits by selling their goods and services for appropriate prices.

This strategy takes into account the cost of the product as well as labor, advertising expenses, competitive pricing, trade margins, and the overall market conditions to determine the sale price. Depending on the industry in which a firm operates, there are different pricing strategies to implement, such as penetration pricing, premium pricing, discount pricing and competitive pricing.

Join Us

© EFM 2021
Web design by Union 10 Design