The first step to pinpointing your ideal pricing strategy is to establish your pricing objectives. The strategy you choose can make or break your business, as the price of your product or service directly affects the revenue of your company. Therefore, it is critical to consider which one will best help you achieve your business goals. Some things to take into account when figuring out your pricing objectives are whether you want to maximize short or long term profits, achieve market stabilization, increase market share, etc.
After you have arrived at your pricing objectives, you can begin pinpointing the pricing strategy that will best complement your product or service.Snowpeak Ski Resort offers a price for a lift ticket that is barely over its marginal cost, but the high equipment rental fee keeps generating big profits. What pricing strategy is being used by the management? price discrimination pricing in two parts bundles of goods cross-subsidization