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PRICING STRATEGIES - Coggle Diagram
PRICING STRATEGIES
Cost-based pricing strategies
Cost-plus pricing: markup added to cost
Target return pricing: price set to achieve ROI
Value-Based Pricing Strategies
Value-in-Use Pricing: Price based on cost savings/benefits
Perceived Value Pricing: Price based on customer perception
Competition-Based Pricing Strategies
Going-Rate Pricing: Matching competitors’ prices
Price Leadership: Industry leader sets the price
New Product Pricing Strategies
Skimming Pricing: High initial price, then reduced
Penetration Pricing: Low initial price to attract customers
Psychological Pricing Strategies
Odd-Even Pricing: Prices ending in .99 or .95 for perception
Prestige Pricing: High price for luxury perception
Demand-Based Pricing Strategies
Dynamic Pricing: Real-time price adjustments
Yield Management Pricing: Price based on perishable inventory
Geographic Pricing Strategies
Zone Pricing: Different prices by region
International Pricing: Prices vary by country
Promotional Pricing Strategies
Loss Leader Pricing: Selling at a loss to attract customers
Bundling Pricing: Selling multiple products at a discount
Relationship-Based Pricing Strategies
Freemium Pricing: Basic service free, premium features paid
Subscription Pricing: Recurring payments for continuous service