- Cost-plus pricing
This is simply calculating your costs, and adding a markup which would become the final price.
- Competitive pricing
This is setting your price based on the competition.
- Value pricing
This is setting your price based on what customers believe you're selling is worth.
- Price skimming
This is initially setting a high price, and lowers the price over time.
- Penetration pricing
This is initially setting a low price, and increases in the future.
What's your strategy? Did you initially set your price lower, only to increase as more people purchased? Or do you simply add a markup to your product cost? Chime in.