Choosing an effective pricing strategy

Price is the one element of the marketing mix that produces revenue. Some of its characteristics are:

• It changes quickly, unlike product features and channel commitments
• It is a key element used to support a product’s quality and your enterprise strategy and objectives

By completing the “Choosing an effective pricing strategy” online tool you can receive feedback about the one out of five (5) pricing strategies that he/she can adopt:

1. Maximum market skimming
2. Product-quality leadership
3. Maximum market share
4. Maximum current profit
5. Survival

Tool’s info

Type of tool: Quiz (questionnaire)
Entrepreneurial stage: I’m intending to start/I’m just starting/I’m a new business owner
Time needed: 10 min
Frequency of completion: Once
Business sector: Service, Manufacturing, Trade