What Do You Mean By Penetration Pricing Strategy?

What Do You Mean By Penetration Pricing Strategy?

Advertisement     Penetration pricing strategy. This strategy charges low price in the early stages of product introduction. Here, the lower price is charged in the initial period in order to break consumer resistance and make products acceptable. The price is raised gradually along with the growing popularity of...

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What Is The Meaning of Perceived Value Pricing?

What Is The Meaning of Perceived Value Pricing?

    Perceived Value Pricing Nowadays, companies have started pricing their products on the customers perceived value of the product. The perceived value depends on various factors like goodwill of the firm, buyer’s image of product performance, warranties provided, trustworthiness and esteem of the firm. Value Pricing Recently, several...

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What Is The Meaning of Going-Rate and Sealed-Bid Pricing?

What Is The Meaning of Going-Rate and Sealed-Bid Pricing?

    Going-Rate pricing Here the firm charges a price that is based on the price of the competitors. Sealed-Bid Pricing It is a competition oriented method of pricing. Here, the firms go for competitive bidding through sealed tenders or quotations. They seek the best (lowest possible) price consistent...

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What is Uniform Customs and Practice for Documentary Credits (UCP)?

Uniform Customs and Practice for Documentary Credits (UCP)   Most letters of credit are subject to UCP 500, which are the universally recognised set of rules governing the use of the documentary credits in international trade. UCP were originally formulated in 1933 by the International Chamber of Commerce (ICC)...

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