Cost-plus pricing is adding a standard mark up to the cost of the product.
Target profit pricing
Uses break-even pricing and add a target profit.
Value-based pricing
Uses buyers' perceptions of value, not the seller's cost, as the key to pricing. Non price variables in the marketing mix are used to build up perceived value. Price is set to match perceived value.
Competition-based pricing
Economic-value pricing
Going-rate pricing
Sealed-bid/tenders
New product pricing strategies
Market skimming
Market penetration
Market skimming
Setting a high price for new products to maximise profit. eg fashion
Penetration pricing
Setting a low price for a new product to attract a large number of buyers and gain a dominant market share. e.g some new consumer pharmaceuticals
Producut mix and service mix pricing
Product/service-line pricing: (99, 129, 149)
Optional product/service pricing: (offer additional 1 yr warranty etc)
Price indicates something about the product. Many consumers use price to judge quality. In psychological pricing the seller considers the psychology of prices and not simply the ecnomics.
Promotional pricing
Below list price and sometimes even below cost.
Value pricing
starts with the customer and the benefits the product creates relative to key competitors.
Geographical pricing
Is a decision about how to price products to different customers in different parts of the country.