As a small business owner, you are probably looking for ways to enter the market to make your product more widely known.
The pricing strategy for market penetration consists of setting a low price for the introduction of the new product, with the aim of boosting sales, gaining market share and making profits quickly.
This strategy diverts attention from other companies and helps increase your brand visibility and customer loyalty .
As time goes by, the cost per unit is expected to decrease and sales volume to gradually increase .
In the long term, once the company is positioned, prices may increase.
Skimming Strategy
In many segments, such as technology and innovation , users are willing to invest a larger amount to obtain the product or service before other people.
Later, the company lowers prices as the market panama mobile database becomes saturated and competing products appear.
One benefit of skimming is that it allows companies to maximize profits from early adopters before lowering prices to attract more price-sensitive consumers .
Skimming not only helps a small business recoup its development costs, but it also creates an impression of quality and exclusivity when introducing its product to the market.
Quantity discounts
You may have noticed that in supermarkets, the larger the package of the product, the lower the price per gram, litre or unit.
This situation describes quantity discounting, a tactic to encourage customers to buy large quantities.
As a result, consumers are less likely to switch brands and, depending on the type of product, may also increase the frequency of consumption , which becomes a difficult habit to break.
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