a stratgie where by business sets prices based on competitor
Penetration pricing
Attracts new customers to a new product or service by offering a lower price during initial offers.
Loss leader
selling a product at a price that is unprofitable but attracts customers.
Predatory
selling a price really low therefore it eliminates the competition.
Psychological pricing
Pricing it below a rounded figure such as £1.99 instead of £2
Cost-plus pricing
Cost-plus pricing is a pricing strategy by which the selling price of a product is determined by adding a specific fixed percentage
Price takers
A price-taker is an individual or company that must accept prevailing prices in a market, lacking the market share to influence market price on its own.
