There are several pricing strategies apart from competition-based pricing. These include cost-plus pricing, where the price is determined by adding a markup to the cost of the product; value-based pricing, where the price is set based on the perceived value to the customer; psychological pricing, where the price is set to appeal to the customer's psychological perception; and dynamic pricing, where the price is adjusted in response to market conditions.
Need to evaluate the best pricing strategy for a product? This Pricing Strategy spreadsheet includes...
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