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10 Leading Strategies for Pricing New Products (2021)

Retalon

Setting initial pricing high may discourage customers or may create the impression of premium quality. Low prices, while more accessible, could permanently mark the product as a commodity. Pricing determines your long-term profitability. Low prices leave little room for promotions or end-of-lifecycle markdowns.

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Product Bundling: What It Is and How to Bundle like a Pro

Wiser

The items paired together could be captive products , like razors and razor blades, complimentary, like a deal on kitchen appliances, or accessories, like smartwatches and replacement watch bands. What About Product Bundling Pricing? Of course, how you price your packages can play a major role in the success of those deals.

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5 Highly Effective Retail Markdown Strategies that Work in 2021

Retalon

And cutting prices is the only way to clear this leftover inventory at the end of a season or of a product’s lifecycle. Although markdowns can have a similar sales uplift to a promotion, the purpose and approach of these two pricing events are very different. Retailers have many other pricing strategies to choose from.