The various pricing strategies which can be used when selling a product or service
It is a must for a firm or business selling their products or services to have their products or services rightly priced. The
Odd pricing is another strategy which is very popular these days as most companies are using this strategy for pricing their products or services in the market. You must have come across products which are priced at $9 or $299 instead of $10 or $300. The last digit of the price will be an odd number which will give the impression to customers as being less and thus leaving no scope for bargain. Customers will believe that it is less in price and therefore do not bargain, considering it reasonable. This type of pricing takes advantage of human psychology where individuals accept a high price sensing it to be at a low price. A similar strategy is the psychological pricing strategy where exploitation of human Premium pricing is another pricing strategy which takes advantage of human psychology. It is believed that if a product is costly or expensive, it will be good or of high quality. Companies take advantage of such beliefs and price their products at a very high price or make it look expensive. They target a certain section of society and make their product look exclusive and premium as we know many people like to buy expensive items or desire it more than any other item priced lower than that. These affiliate marketing pricing strategies are a few of the many pricing strategy which are popularly used by |