The 4 primary pricing strategies include: 1. Penetration Pricing: Setting low prices to enter a new market and attract customers. 2. Skimming Pricing: Launching with high prices that are gradually lowered to capture different market segments. 3. Competition-Based Pricing: Setting prices based on competitors’ pricing strategies. 4. Value-Based Pricing: Pricing products based on the perceived value to the customer rather than on costs. These strategies guide businesses in setting prices that align with their market positioning and objectives.
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