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Five Different Pricing Strategies to Increase Sales | Quantzig

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Quantzig, a global analytics solutions provider, has announced the
completion of their latest article on the five
different pricing strategies to increase sales
.

This press release features multimedia. View the full release here:
https://www.businesswire.com/news/home/20180820005286/en/

5 Best Pricing Strategies to Consider for Your Business. (Graphic: Business Wire)

5 Best Pricing Strategies to Consider for Your Business. (Graphic: Business Wire)

All businesses feel that choosing the right pricing strategy for their
brand is a very arduous task. A substantial amount of brain-storming and
calculations are involved while formulating the price for a product or a
service. Organizations estimate various factors such as the costs
involved, competitor pricing, ROI, and profit margins to name a few
while associating the types of pricing strategies that are best suitable
for their offerings. The pricing strategy that you set also has a great
influence on the positioning and marketing of your brand. So, it is
vital for organizations to carefully assess the different types of
pricing strategies and weigh the pros and cons of each before finalizing
the most suitable option.

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a proposal
to know more about our digital analytics solutions.

According to the analytics experts at Quantzig,
"Companies evaluate various factors such as the costs
involved, ROI, competitor pricing, and profit margin to name a few while
comparing the types of pricing strategies that are best suited for their
offerings."

Different pricing strategies to increase sales

  • Penetration pricing: Brands make the market entry at a
    reasonably lower price than the competitors in penetration pricing.
    These types of pricing strategies are used to appeal to more customers
    and make the customer shift from present brands existing in the
    market. Penetration pricing strategies chiefly target price-sensitive
    customers, whose buying decisions are mainly based on the product
    prices. Once organizations manage to capture a significantly good
    market share with penetration pricing, they can gradually start
    increasing the prices. Request
    a demo
    to know more about our portfolio of analytics
    solutions.
  • Price skimming: These pricing strategies are used by firms
    while entering into a new and exclusive market. In the early stages,
    the products are priced at the higher end. The whole point behind such
    pricing strategies is to increase the profits for early adopters
    before competitors enter the market and make the product more price
    sensitive. By primarily pricing the products on the higher end,
    companies can not only recover its development costs but also gives
    the product an insight into being an exclusive and premium product. Get
    in touch
    to know more about the five different pricing
    strategies to increase sales.
  • Price bundling: The buy 1 get 1 free offers in retail stores
    are very attractive and we all love it. These are types of pricing
    strategy that are implemented by organizations where one product is
    united with another product and offered as a deal. These techniques
    are frequently adopted by retailers as an attempt to clear-off excess
    stock. Selling products as a deal persuade higher customer purchase
    and result in faster selling of products.
  • Visit our
    page
    , to view a comprehensive list of the five different
    pricing strategies to increase sales.

Quantzig
is a pure-play analytics advisory firm concentrated on leveraging
analytics for prudent decision making and offering solutions to clients
across several industrial sectors.

Request
a proposal
to see how Quantzig's solutions can help you.

View the complete list of the five different pricing strategies to
increase sales:

https://www.quantzig.com/blog/5-best-pricing-strategies-business

About Quantzig

Quantzig is a global analytics and advisory firm with offices in the US,
UK, Canada, China, and India. For more than 15 years, we have assisted
our clients across the globe with end-to-end data modeling capabilities
to leverage analytics for prudent decision making. Today, our firm
consists of 120+ clients, including 45 Fortune 500 companies. For more
information on all of Quantzig's services and the solutions they have
provided to Fortune 500 clients across all industries, please contact us.

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