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Topic G, S - Coggle Diagram
Topic G
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Product Mix pricing
Captive Pricing
Pricing products that must be used along with the main product. Like coffee capsules with a coffee machine.
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Product line pricing
Adjusting and establishing the prices of multiple products within a product line based on cot differences between product, customer's calculations between features and competitors' prices.
Major Pricing strategies
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Competition based
Setting prices based on competitor's strategies, Prices, costs and offerings.
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Elasticity of demand.
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Definition: a measurement of the change in the demand for a product in relation to a change in its price.
New Product Pricing
market skimming pricing: Setting a high price for a new product to skim maximum revenues layer by layer from the segments willing to pay.
Market penetration pricing: Setting a low price for a new product in order to attract a large number of buyers and a large market share.
pricing strategies apply when a startup is launching its first product or an established company is rolling out a new brand.
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