Price

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Price refers to the value of a service or good. It is usually expressed in monetary units. Like distribution or product policies, price is an integral part of the marketing mix. In companies, the pricing strategy includes the pricing policy. It includes all decisions and considerations that can influence the pricing of a product or service.

In concrete terms, there are 4 types of pricing strategies. We distinguish :
– the low price strategy, which consists of offering prices and commercial costs that are as low as possible. Low prices help to attract and seduce a large audience,
– the high price strategy, which consists of offering high prices for an equivalent product quality. This technique allows the product to be associated with a brand image,
– the luxury pricing strategy, which only works on the sale of exclusive products or services. This notion of scarcity makes it possible to establish prices that are much higher than those already considered high. This strategy only works on a privileged category of customers,
– the fixed price strategy, which makes it possible to set a reasonable price and stick to it as long as possible.