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Glossary

  • Cost-plus pricing: This involves setting the price of a product by adding a markup to the cost of producing it.

  • Competitive pricing: This involves setting the price of a product based on what competitors are charging for similar products.

  • Premium pricing: This involves setting a high price for a product, based on the perceived value of the product or the prestige of the brand.

  • Psychological pricing: This involves setting prices in a way that influences the customer's perception of the value of the product. For example, a price ending in ".99" may be perceived as being less expensive than a price ending in ".00."

  • Dynamic pricing: This involves setting prices that change based on demand or other market conditions.

  • Bundle pricing: This involves selling multiple products together at a discounted price.

  • Freemium pricing: This involves offering a basic version of a product or service for free, with the option to upgrade to a paid version with additional features.

  • Loss leader pricing: This involves setting a low price for a product in order to attract customers to a store, with the expectation that they will purchase other, higher-priced products as well.

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