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Pricing Strategies - Mind Map
Mind Maps have been produced to introduce topics and give students an overview of key topics being studied. The maps can be viewed as a whole page or, for those who prefer a more linear approach, as a text version.
View larger version of the mind map.
- Market Skimming
- Value Pricing
- Price based on consumer perception
- Loss Leader
- Sold below cost to attract sales elsewhere
- Psychological Pricing
- Going Rate (Price Leadership)
- Prices set following lead of rivals
- Tender Pricing
- Price Discrimination
- Different price, same good/service
- Destroyer Pricing/Predatory Pricing
- Aims to force out competitors
- Absorption/full cost Pricing
- Set price to cover FC and VC
- Marginal Cost Pricing
- Set price in relation to MC
- Target Pricing
- Contribution Pricing
- Variable/Direct Costs + contribution to Fixed costs
- Cost-Plus Pricing
- Influence of Elasticity
- Price Inelastic
- Price Elastic
- Penetration Pricing
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