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Apr 03, 2022
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However this assumes that the email list competitor has a good grasp on the target market. (3) Value-Based This approach bases costs on what level of value the target market places email list on the product itself. Then, the organization can employ a price skimming strategy (pricing at the top value), price penetration (pricing at the lowest value) or email list somewhere in between. This requires a bit of research to discover email list what attributes and expectations the customer values the most and pricing it on this. In reality, there should be a blend of the approaches. The price ceiling (or the price point at which demand email list becomes zero) should be set at the top, and the price floor (or the price point at which profit becomes zero) should be established first. The Price ceiling email list represents customer perception of value and the email list price floor represents the consideration for product cost. The price is then set in email list the middle, in between these points, with all factors such as marketing strategy, objectives, competitors and market place factors taken into consideration here to find the ideal price. The Value Based Approach Basing pricing strategy on the target market email list is an obvious choice, given the impact price has in communicating with the target market.
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