What is a pricing strategy?

Pricing strategy refers to a very critical component of the marketing mix.

Price is often an important factor affecting the success or failure of a transaction, and it is also the most difficult factor to determine in the marketing mix.

The goal of enterprise pricing is to promote sales and obtain profits.

This requires companies to consider both cost compensation and consumers' ability to accept prices, so that the pricing strategy has the characteristics of two-way decision-making between buyers and sellers.

Common pricing strategies include the following: discount pricing, psychological pricing, differential pricing, regional pricing, combination pricing, and new product pricing.