business paper - pricing strategies

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5 Terms

1
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loss leader

selling one product at a loss so a customer has to buy additional products that will generate a profit

2
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price skimming

start with a high price and then reduced over time

3
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price penetration

start with a low price and increase it over time

4
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competitive pricing

set a similar price to your competitors

5
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cost plus

working out the cost of making a product and then adding on a percentage