What is Pricing Strategy

What is Pricing Strategy - Image by jcomp on Freepik

A pricing strategy is a plan or approach that a company uses to determine the price at which it will sell its products or services. It involves considering various factors, such as the cost of producing the product or service, the target market, the competition, and the company’s overall business objectives, to determine the most appropriate price. A pricing strategy aims to set prices in a way that maximizes profits and meets the needs and expectations of the target market.