Price

• Key things to consider when setting a price


  Market price

  How much it costs to make it

  The price has to compete with competitor prices

  The overall goals of the business
• What are the different pricing strategies?

  Competitive pricing

  Penetration pricing

  Skimming - Setting a price high when the product in=s introduced to the market and then gradually decreased.

  Psychological pricing

  Loss-leaders

  Discrimination pricing