Title: Identify pricing strategies.
Course: Make It Your Business (12151-18) > Section: Preparing a Marketing Strategy

Identification should include

- cost-based pricing
- demand-based pricing
- competition-based pricing.

Process/Skill Questions:

- What are examples of demand-based pricing? Of competition-based pricing?
- How might pricing strategies vary between specific industries?
- What effect does psychological pricing have on the business’s price choice? On the customer’s decision to purchase the product?
- What influences the choice of a pricing strategy in each stage of the product life cycle?