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  2. Pricing strategies - Wikipedia

    en.wikipedia.org/wiki/Pricing_strategies

    Sellers competing for price-sensitive consumers, will fix their product price to be odd. A good example of this can be noticed in most supermarkets where instead of pricing milk at £5, it would be written as £4.99. Contrarily, sellers competing for consumers with low price sensitivity, will fix their product price to be even.

  3. Value-based pricing - Wikipedia

    en.wikipedia.org/wiki/Value-based_pricing

    Pricing confidence is an essential organizational characteristic which allows teams to sell the product confidently and believe in the price-worthy value of the product (Liozu et al., 2011). [19] Therefore, it is important that companies build up pricing confidence in a team, showing the team a better insight, creating more value from the product.

  4. Pricing - Wikipedia

    en.wikipedia.org/wiki/Pricing

    A price tag is a highly visual and objective guide to value. Pricing is the process whereby a business sets and displays the price at which it will sell its products and services and may be part of the business's marketing plan.

  5. Price optimization - Wikipedia

    en.wikipedia.org/wiki/Price_optimization

    Price optimization utilizes data analysis to predict the behavior of potential buyers to different prices of a product or service. Depending on the type of methodology being implemented, the analysis may leverage survey data (e.g. such as in a conjoint pricing analysis [7]) or raw data (e.g. such as in a behavioral analysis leveraging 'big data' [8] [9]).

  6. Pay what you want - Wikipedia

    en.wikipedia.org/wiki/Pay_what_you_want

    PWYW models can be sometimes successful as they eliminate many disadvantages of conventional pricing. These models can eliminate fear of whether a product is worth a given set price and the related risk of disappointment ("buyer's remorse"). For sellers it removes the challenging and sometimes costly task of setting the "right" price (which may ...

  7. Van Westendorp's Price Sensitivity Meter - Wikipedia

    en.wikipedia.org/wiki/Van_Westendorp's_Price...

    The assumption underlying PSM is that respondents are capable of envisioning a pricing landscape and that price is an intrinsic measure of value or utility.Participants in a PSM exercise are asked to identify price points at which they can infer a particular value to the product or service under study.

  8. Pricing science - Wikipedia

    en.wikipedia.org/wiki/Pricing_science

    Pricing science is the application of social ... These programs provided model-based support to answer the ... in addition to the price of a specific product, sales ...

  9. Name your own price - Wikipedia

    en.wikipedia.org/wiki/Name_your_own_price

    Popularized by the reverse auction pioneer, Priceline.com, such pricing strategy asks consumers to 'name their own price' for various products and services like air tickets, hotels, rental cars, etc. [4] The first bid a consumer places and the subsequent bid increments express the consumer's willingness or unwillingness to haggle. "The economic ...