Answer to Question #185729 in Marketing for Amber

Question #185729

How pricing can be an entire business Model in Services


1
Expert's answer
2021-04-28T11:58:03-0400

Pricing is an important element in the competitiveness of any business enterprise. Despite the existence of other strategizing factors, pricing remains the main driver of supply and demand forces. Therefore, firms can leverage on pricing techniques to gain on market shares. For instance, penetration pricing has proved effective when introducing a new product in the market. Similarly, temporary and discount pricing are known to boost sales among small enterprises. With this information, it is evident that firms can rely on pricing as a whole strategizing modality.


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