6 common pricing strategies for small businesses (part 2)
- Price skimming: It refers to when an e-commerce business charges the highest initial price that customers will pay, then lowers it over time.
- Penetration pricing and discount pricing: It’s no secret that shoppers love sales, coupons, rebates, seasonal pricing, and other related markdowns.
- Keystone pricing: It’s when a retailer determines a retail price by simply doubling the wholesale cost they paid for a product to set a healthy profit margin.
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6 common pricing strategies for small businesses (part 1)
- Cost-plus pricing: You make the product, add a fixed percentage on top of the costs, and sell it for the total.
- Competitive pricing: It refers to using competitors’ pricing data as a benchmark and consciously pricing your products below theirs.
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