11/11/2023
Method of being above your competitors 2
Strategic organization is known by the choice
of strategy they use for their business operations
Strategy as the basic element in marketing success in achieve the organization goals as well as ascertaining customers satisfaction,
Pe*******on pricing strategy' seems to be the best strategy that can sustain the organization long-run business success.
That is, observing the competitive price ofthe similar product or service and then bring down the price of your own product or service ( reduce your price) to a certain amount that will be lower than the price of your competitors,
the aim here is,
to motivate the exiting customer, attract new customer, gain the largest share in the total market and be on top among your competitors.
skimming pricing strategy:
To keep innovators and early adapter customers,
standard product or service needs to be maintain and fake product or service need
to be avoid.
At this point, customer will prefer to pay for that product or service that offer them what they want and need at a given time,
'quality' is the expectation of customer, price is not a problem to this set of customer.
skimming pricing strategy involve a firm entry into market with high price,
this often occur to a new product that just newly enter the market,
most time, company charge high in other to gain the input cost, or base on product quality,
then, were the product get to maturity stage, then the price will fall as a result of much competitors.
SUMMARY
Business firm or company suppose to market their product or service in such a way that will ascertain to customer satisfaction because they the reason why firm exist in the market .