Some of the most common pricing strategies include:
Value-based pricing
Competitor-based pricing
Cost-plus pricing
Dynamic pricing
Value-based pricing is basing a product or service’s price on how much the target consumers believe it is worth. Competitor-based pricing is when businesses optimize prices using competitor product and pricing data 2. Cost-plus pricing is when businesses add a markup to their costs to determine the price of their product 3. Dynamic pricing is when businesses change their prices based on market demand 3.
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