Price

Setting the correct price depends on:

• How much it costs to make

• Colour of Product

• Time of Year

• Competitors Prices

This is a short term pricing strategy that involves reducing the price of a product to help clear it.

• Promotional Pricing

• Premium Pricing

• Demand-orientated Pricing

• Destroyer Pricing

• Market Skimming Pricing

The strategy involves charging a high price in order to appear more exclusive.

• Promotional Pricing

• Premium Pricing

• Demand-orientated Pricing

• Destroyer Pricing

• Market Skimming Pricing

This strategy is short term and involves increasing/decreasing the price demanding on the demand.

• Promotional Pricing

• Premium Pricing

• Demand-orientated Pricing

• Destroyer Pricing

• Market Skimming Pricing

This strategy involves charging such a low price that competitors just cannot compete.

• Promotional Pricing

• Premium Pricing

• Demand-orientated Pricing

• Destroyer Pricing

• Market Skimming Pricing

This strategy is used when a new product is launched at a high price when people must have it.

• Promotional Pricing

• Premium Pricing

• Demand-orientated Pricing

• Destroyer Pricing

• Market Skimming Pricing

BOGOF is an example of:

• Promotional Pricing

• Premium Pricing

• Demand-orientated Pricing

• Destroyer Pricing

• Market Skimming Pricing

High prices for holidays during the school break is an example of:

• Promotional Pricing

• Premium Pricing

• Demand-orientated Pricing

• Destroyer Pricing

• Market Skimming Pricing

Charging a high price for a designer handbag is an example of:

• Promotional Pricing

• Premium Pricing

• Demand-orientated Pricing

• Destroyer Pricing

• Market Skimming Pricing

Charging a high price for a new iPhone is an example of

• Promotional Pricing

• Premium Pricing

• Demand-orientated Pricing

• Destroyer Pricing

• Market Skimming Pricing