A company can use its pricing strategy to gain a competitive advantage in several ways. First, it can use penetration pricing to attract customers and gain market share. This involves setting a low initial price to attract customers and discourage competitors. Second, it can use price skimming, which involves setting a high price for a new product to maximize profits from early adopters. Third, it can use value-based pricing, which involves setting a price based on the perceived value of the product or service to the customer. Finally, it can use cost-plus pricing, which involves adding a markup to the cost of producing the product.
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