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Section 7

Specific Pricing Strategies

Book Version 3
By Boundless
Boundless Marketing
Marketing
by Boundless
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7 concepts
New Product Pricing

With a new product, competition does not exist or is minimal, hence the general pricing strategies depend on different factors.

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Product Line Pricing

Line pricing is the use of a limited number of price points for all the product offerings of a vendor.

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Psychological Pricing

Psychological pricing is a marketing practice based on the theory that certain prices have meaning to many buyers.

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Pricing During Difficult Economic Times

During a recession, companies must consider their unique situation and what value they provide customers when devising a pricing strategy.

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Everyday Low Pricing

Everyday low price is a pricing strategy offering consumers a low price without having to wait for sale price events or comparison shopping.

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High/Low Pricing

High-low pricing is a strategy where most goods offered are priced higher than competitors, but lower prices are offered on other key items.

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Other Pricing Strategies

One pricing strategy does not fit all, thus adapting various pricing strategies to new scenarios is necessary for a firm to stay viable.

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