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While selling a product or service, the most critical element regarding it is pricing strategy. The determination of price has been calibrated after setting certain measures and calculations that depend on profit maximization. 

Making of Pricing Strategy

The pricing strategy is used for defending the new market when any new entrants emerge in the market and initiate a competition. Pricing is a very critical and demanding element of the marketing mix. Pricing strategy helps to initiate a fair and skilled pricing scheme for their products.

In the emergence of the internet, pricing comparisons can also be started by the online method. But in that case, the consumer should have to be selective in purchasing. They should be informed about monetary value with proper knowledge. BookMyEssay online assignment writers provides full-fledged cooperation for Pricing Strategy assignment help.

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Classification of Pricing Strategy

We differentiate pricing strategy into 3  segments. Those are given below:

Creaming: Creaming is a pricing technique that allows the goods to be sold at a minute higher price as a result the sales are quite required to break even. Generally, it is the technique to gain higher profit by selling at a higher price. In that case, you have to sacrifice high sales. In this, the cost of investment is normally covered and refundable. This strategy is usually suggested for a limited duration.

Decoy pricing: When the seller offers three or more three different products, where two out of those three have similar prices, the decoy pricing strategy turns up as effective. Usually, as a result, the two same-priced products have become more expensive than the 3rd one. This very technique makes the Sales high because it would provide the customer's options of similar price.

Freemium: It is another very productive technique of pricing strategy where the company would come to offer any products or services by imposing a good premium in the amount for the main product. If you have a look at this very term you can figure out the word ‘freemium’ is a combination of two words, ‘free’ and ‘premium’ which carries irony.

Various Strategies  of Pricing

Sometimes it seems very difficult for any organization to maintain a productive and beneficial pricing strategy. So it is very important to determine a specific and consistent pricing strategy. In this regard, you can undoubtedly trust on BookMyEssay as our skilled academic experts are always able to provide various pricing strategies with your Pricing Strategy assignment help. Here we would like to describe our different pricing strategy case study help categories.

  • Competition pricing: It is based on the prices which are generated by the competitors in the market. This strategy is very productive for those who are dealing with the products.
  • Penetration pricing: Penetration pricing implies the strategy that is used for an organization to penetrate their new products in the market. By this strategy, the producers can increase any product by introducing the product.
  • Line pricing: Line pricing is usually used by those kinds of manufacturers who want to maximize their sales by yielding more than one good.

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Nowadays, it becomes very challenging for students who want to invest their knowledge in the pricing strategy of the product in this dynamic market. BookMyEssay will be one of those best resources to enhance pricing strategy skills with your Pricing Strategy homework assignment help online.

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Writing assignments is not the only task in your academic curriculum. You have to simultaneously handle multiple subjects besides delivering quality pricing strategy essay assignments on time to your professor. This makes it quite difficult to produce standard content for your assignment topic that can help you to fetch good grades in your academics.

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