These pricing strategies can significantly affect a company's competitive position. Cost-Plus Pricing ensures the company covers its costs and makes a profit. Competitive Pricing can help a company to stay competitive by matching or beating competitors' prices. Value-based Pricing can increase customer satisfaction and loyalty by aligning the price with perceived value. Price Skimming can maximize profits in the early stages of product life cycle. Penetration Pricing can help a company to enter a competitive market and gain market share quickly.
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