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What are some of the pricing strategies used by major companies?
Wiki User
∙ 10y ago
Prices are set by companies always according to the markets. The main strategies used are: Price Skimming: used to introduce a new product in higher price in order to cover production and advertising costs, reinvest and sell the product in a lower price. Penetration Pricing: used to attract customers by introducing very low prices by companies that are just entering the market.Return on Investment Pricing: used to predict profit by potential sales. Geographical pricing: pricing is set according to the level of living in a specific place.
Wiki User
∙ 10y ago
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