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| arccess2011 |
 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,designer shoulder handbags, 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,chloe handbags, 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,air max 89, the price is then gradually increased.
Loss leader - One of the most innovative pricing strategies,discount prada handbags, 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,womens nike air max 90, to introduce more products that would cover up its loss and make more profits than they could have otherwise.
Hence,discount coach handbags, these are useful strategies of Manitoba CPAs which can help one to move forward with full strength. |
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