September 12, 2024

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One of the most common examples of penetration pricing is 'buy one get one free', where you offer an item free with a related purchase. This tactic works much better than a 50% discount, as the word 'free' has a strong psychological effect on consumers. Customers often buy other products to compensate for the discounted one. This strategy is an excellent way to move dead stock and introduce new products. A new product can be linked with a top selling product in a similar category.

More on Penetration Pricing

Steff The Blogger030 mins

One of the most common examples of penetration pricing is ‘buy one get one free’, where you offer an item free with a related purchase. This tactic works much better than a 50% discount, as the word ‘free’ has a strong psychological effect on consumers. Customers often buy other products to compensate for the discounted one. This strategy is an excellent way to move dead stock and introduce new products. A new product can be linked with a top selling product in a similar category.

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This article will discuss the concept of penetration pricing and how to implement it in your business and cover the benefits and drawbacks of this type of pricing strategy. If you've never heard of it, read on to learn more. You'll soon see why this strategy is so useful to retailers and why it should be considered a valuable tool. However, it's important to know what this strategy entails before implementing it into your business or retail store.

How to Implement a Penetration Pricing Strategy in Retail

Steff The Blogger016 mins

A successful penetration pricing strategy depends on the type of product or service. Subscription services are a prime example. These businesses capture a large percentage of the market quickly and then raise prices. After a period of time, they retain customers because they offer a great customer experience. However, the line between penetration pricing and predatory pricing is hazy.

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Some Ways You Can Fight the Next Recession

Some Ways You Can Fight the Next Recession

Steff The Blogger09 mins

It’s no secret that we’re in the midst of a recession right now. There are some signs that it may be over, but you also have to remember that recessions don’t usually just happen overnight. They build up over time before they reach their peak. That means this one could still get worse before it gets better, so it’s important to prepare yourself now if you want to survive the next few years unscathed. Here are some tips for how you can fight off the next recession.

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