arccess2011
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 Wysłany: Sob 5:40, 11 Gru 2010 Temat postu: Manitoba CPA- Pricing Strategies for Business |
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One of the most important business decisions that can be, and often has to be, made is one regarding the pricing of a particular product or service, since this is what would differentiate a brand from competition. Here are a few tips regarding the various pricing strategies used by Manitoba CPAs to give businesses a distinctive edge in the present business scenario.
High pricing strategies
These are basically of two types:
Creaming - This refers to selling a product at a higher price and making sufficient profit before new players come into the picture. As expected, this strategy works well for new products or new markets only.
Premium pricing - This refers to leveraging the consumer's tendency to form an opinion that a lower priced products would have inferior quality compared to a high-priced one. This strategy, one of the most frequently used ones by Manitoba CPAs,[link widoczny dla zalogowanych], calls for the product pricing to be done higher than present similar products in the market, but at the same time also offering a better quality product, all the while ensuring that the profit margins are maintained.
This strategy is commonly used in the fashion industry,[link widoczny dla zalogowanych], where consumers pay more for designer brands as they consider them as a superior quality offering.
Low pricing strategies
These are of three types:
Penetration pricing - This is one of the most challenging implementations for Manitoba CPAs, since they have to work on how to best give a low price and yet derive profits.
Promotional pricing - This is a short-term pricing strategy wherein the price of a product is reduced for a certain span of time to increase its awareness and boost sales. Once the product is relatively well known in the market,[link widoczny dla zalogowanych], the price is then gradually increased.
Loss leader - One of the most innovative pricing strategies,[link widoczny dla zalogowanych], this calls for offering one of the brand offerings to be priced marginally lower than its cost of production, and once the product is popular,[link widoczny dla zalogowanych], to introduce more products that would cover up its loss and make more profits than they could have otherwise.
Hence,[link widoczny dla zalogowanych], these are useful strategies of Manitoba CPAs which can help one to move forward with full strength.
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