BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -A pricing strategy is a model or method used to establish the best price for a product or service. It helps you choose prices to maximize profits and shareholder value while considering consumer and market demand.

Detailed explanation-2: -A pricing strategy takes into account segments, ability to pay, market conditions, competitor actions, trade margins and input costs, amongst others. It is targeted at the defined customers and against competitors.

Detailed explanation-3: -Pricing strategy in marketing, in simple terms, is adjusting prices according to market determinants. Price is the value one assigns to a good or service which they determine by research. A pricing strategy considers market conditions, consumer willingness to pay, competition, trade margins, costs incurred, etc.

Detailed explanation-4: -What are the 4 major pricing strategies? Value-based, competition-based, cost-plus, and dynamic pricing are all models that are used frequently, depending on the industry and business model in question.