What are the best pricing strategies?

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If you sell services, this applies exactly the same. For all these reasons, a pricing strategy is not just about selling more expensive or cheaper.

Pricing strategy: expensive vs cheap
We have already said that price is important but it is not the only thing we have to take into account with regard to business sales.

Your prices always, always, always have to cover the sum of all your fixed and variable costs, otherwise you would run into losses.

You need to apply a margin in the form of a percentage to pakistan phone number list your prices so that your business can increase its savings (capital) and you can invest and grow.

As we have previously discussed, if you have a good value proposition, your customers will be willing to pay more and will be happy to do so.

Your prices will not be linked to cost but to value, so if your value is high, you can use expensive prices.

Below I will give you several ideas for pricing strategies that you can apply to your products or services.


1.- Penetration pricing strategy
Penetration pricing strategy occurs when a new product or service is involved and a low price is set to enter the market and then raised.