How To Establish Your Pricing Strategy

SMH see there are number of pricing strategies you can employ when setting your price, including strategies based on costs, competition, perceived value or the product itself. It's vital to establish your pricing objectives early to help you make your choice of strategy simpler. When choosing your pricing strategies, it is important to keep your overall marketing strategies in mind to ensure your strategies complement one another.

There are numerous amounts of pricing strategies, such as:

• Cost-based pricing strategies
  - Cost-plus
  - Charge per method
• Competition-based pricing strategies:
  - Going rate pricing
• Value-based pricing strategies:
  - Value pricing
  - Premium pricing

• Product-based pricing strategies:
  - Penetration pricing
  - Skimming pricing
  - Loss leader pricing

Read more at http://www.smh.com.au/small-business/resources/select-pricing-strategies-20140717-3c22n.html

Learn how Stratinis can help you make better pricing decisions