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It is very important to make sure that you align your pricing strategy with your target market and branding strategy. Below are various different businesses and pricing strategies.
Bentley Motors adopts a premium pricing as the pricing strategy in the business. This is for the reason of the unique quality of the luxury cars it manufactures. Moreover, the quality of the workforce is expensive for the required quality skills. Essentially, for the introduction of the new products that newly introduced in the market.
Motorola uses the skimming pricing as the price strategy. This is because it enjoys the competitive advantages in the market for its innovative products. Penetration pricing is another policy it adopts for maximum reach of the market share in the arrival of similar product innovated by competitors. Further, the business uses the promotional pricing strategy as well as competitive pricing to gain maximum brand exposure.
Kohl’s, adopts economic pricing to ensure that the specific segments, being the middle-aged women among others are attracted by the affordability of the product. Moreover, the provision of different prices for all levels based on their purchasing power is achieved through the economic pricing strategy.
Dish Network, adopts competitive pricing to ensure that it can compete with the other service providers in the market. Moreover, economic pricing can also be used to ensure the general public is reached at their economic level in service delivery.
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