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13 min read
1 May 2022

Penetration Pricing – How does Penetration Pricing Work and When to use it?

Some companies will swoop into a market with radically low prices as a strategy for attracting new clients. This is called a penetration pricing strategy. We’ll explore what penetration pricing is, how it works, how it compares to other pricing strategies, when it should be used and also look at some penetration pricing examples.

8 min read
18 April 2022

Price Skimming Strategy and Its Advantages

Price skimming means setting a high initial price for a new product, then gradually lowering it to capture more price-sensitive customers. Learn when it works and the risks to consider.

13 min read
28 March 2022

What is an Augmented Product? Product Augmentation Strategies and Examples

Product augmentation can be accomplished by adding a variety of different add-ons to the original product... The augmented product then contributes to a better customer experience. This also makes major contribution to brand loyalty and creates a favorable purchase experience for the customer.

17 min read
25 February 2022

What is a Price? – Definition of Prices and Role of Prices in Marketing

Learn the secret pricing strategies that can take your business to the next level through our actionable guide on setting prices and boosting profits.

20 min read
31 January 2022

The New Product Development Process (NPD) – 8 Steps to Success

Your Idea to Market Success: The Roadmap to New Product Development Got a brilliant product idea? Understand the steps to turning it into a profitable reality. Learn about idea generation, market research, concept testing, and the critical launch phase.

11 min read
6 November 2021

What is a Product and How To Build An Irresistible One

Tangible or intangible? Consumer or industrial? Core or augmented? Your product is much more than “something to sell”…

5 min read
19 December 2020

Stages of the Product Life Cycle – Real-Life Examples from Launch to Decline

The product life cycle describes the steps a product goes through from beginning to end until it eventually disappears from the shelves. Each phase has its own characteristics and requires unique strategies to ensure success.

10 min read
24 August 2020

In-Depth Analysis of Product Mix Pricing Strategies

The Profit Maximizer Discover how to optimize pricing for your entire product mix. Learn strategies for product lines, bundles, and essential add-ons.

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