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Creative pricing strategies

Get creative with pricing

By BloggerKhan

My profession is Management and Marketing and it revolves around outsourcing, ecommerce and marketing on the internet. Wise men say identify what you are passionate about and then see if ...

By BloggerKhan

Posted in | Tags : ,

Some times small businesses think they need to add more new products to generate more sales. Yes that is a good plan but an easier technique is to offer the same product in multiple packages, all priced differently. Take the example of Coca Cola. You can buy Coke very cheaply in a 2 Liter bottle. The same product is priced higher in a bottle and even higher in a can. Think about possible locations your customer may buy your product and the level of urgency at that location and the level of competition at that location. In a grocery store, there isn’t much urgency but there is intense competition so you can buy a 2 Liter bottle for next to nothing. In a vending machine near a bus stop, you may have less competition and greater urgency. The same Coke is priced differently per ounce based on location, competition and packaging.

Do you think you can package and price differently?


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