Pricing Strategies
Cost-plus pricing - Setting a price by adding a fixed amount or percentage to the cost of making the product
Penetration pricing - Setting a very low price to gain as many sales as possible
Price skimming - Setting a high price before other competitors come into the market
Predatory pricing - Setting a very low price to knock out all the other competition
Market Leader - Setting a price based on competitors prices
Price discrimination - Setting different prices for the same good, but to different markets e.g. peak and off peak mobile phone calls
Psychological pricing - Setting a price just below a large number to make it seem smaller e.g. £9.99 not £10