Wildcard price message
The precisely defined values of products or services are accompanied by messages directed to potential new customers. There can be several pricing strategies, and one of them is the cream-skimming strategy. This method works perfectly with assortments that have just appeared on the market. Sellers are guided by the belief that some buyers are willing to spend larger sums of money to get something that fits into current trends.
Another tactic is low price, which is intended to generate the possibility of a larger market share in the industry. However, there are cases of deliberately underestimating the country code +354, iceland phone numbers value for the purchase of a specific product or service. This practice is called deliberate elimination of competition, and its crux is to gain the attention of every consumer.
Interestingly, one of the observable and still used activities in the area of sales is the recording of the price, e.g. instead of PLN 300, manufacturers present the amount as follows - PLN 299.99.
Price in marketing has many faces
When establishing the functions of price in marketing and the costs for a given product for the offer of the conducted business, it is worth precisely defining the budget for the production of a specific assortment or distribution of a given service to the consumer. This refers not only to materials intended for the execution of the order, but also to the amounts covering the workload and expenses paid for managing the company. It is also important to observe the actions of the competition, including the pricing policy. Choosing the right pricing strategy is not one of the easiest tasks, but it is worth analyzing the results of each of them.
Low vs. high prices
By offering low prices (so-called wholesale prices), you can expect a rapid increase in sales. However, there are two sides to the coin. High demand for the product offer is associated with an increase in production, and thus a guarantee of an appropriate supply. A lower price, i.e. the value of the product, can translate into the quality of the product, which is the result of the first impression of customers (business entities).