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Pricing Strategies Explained: Which One is Right for You?

Wiser

You may lose some of your customer base once you raise your prices later on. Despite these cons, penetration pricing is often viewed as a great strategy for newer products, as long as you have a plan in place for earning long-term revenue down the line. Bundle Pricing. Dynamic Pricing.

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8 Effective Ways to Increase Profit Margins in Retail

V Count

However, running a retail store and aiming for a higher profit margin requires not just planning but also a lot of hard work. If you’re mostly targeting price-sensitive retailers, consider this strategy instead. In short, competitive pricing is when you keep prices lower than your competitors. Bundle pricing.