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Price - Coggle Diagram
Price
Different strategies
Loss leader pricing
Selling at a price below production costs, commonly utilized by console and tv manufacturers
Price Discrimination
Consists of selling a product at different prices to different customers. On the basis of a set of criteria
Psychological pricing
Consists of rounding the numbers down say putting the price at 499$ instead of 500$ or 4.99$ instead of 5.00$
Destroyer pricing
Consists of reducing prices as a means of forcing competitors out of the industry in which they are competing illegal in the US
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Price leadership
Utilized by market leaders, consists of high prices due to the lack of perception of alternatives by the customers
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Definition
the amount of money expected, required, or given in payment for something.