What's it: Premium pricing is a pricing strategy in which a company offers high prices for its product quality. The keywords are of high price and quality.The company charges a high price to differentiate its products from the competitors'
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Destroyer Pricing: Meaning, How it works, Purposes, Pros, Cons
What's it: Destroyer pricing is a low pricing strategy to drive competitors out of the market. After being expelled, the company can act as a monopolist in the market. Other terms for this strategy are undercutting and predatory pricing.The
Competitive Pricing: Types, How It Works, Advantages, and Disadvantages
What's it: Competitive pricing is a pricing strategy in which firms use competitors or industry averages as benchmarks for pricing. They may charge higher, close, or lower prices than the average competitor. So, companies' first task is to gather and
Cash Cow in the BCG Matrix [Summarized]
What's it: A cash cow is a product or business unit with a high market share in a low-growth market. In other words, a product is in a mature market and has a dominant position, perhaps as a market leader.It is one of four quadrants in the
Question Mark in the BCG matrix [Explained]
What's it: Question mark is a product or business unit with a low market share but in a high growth market. The product has an opportunity to increase market share and dominate the market.The question mark is one of the four categories of
Dogs in the BCG Matrix: Meaning, Implications to The Company
What's is: A dog is a product or business unit with a low market share and in a low-growth market. It is one of the four categories of the BCG matrix apart from the star, cash cow, and question mark.Well, I will briefly discuss the
Growth Stage of the Product Life Cycle: Meaning, Characteristics
What's it: The growth stage is the part of the business cycle in which the company begins to enjoy high sales volume growth. Consumer awareness has also increased, reducing the risk of rejection. They try to buy a new product and, when
Introduction Stage of the Product Life Cycle: Meaning, Characteristics
What's it: The introduction stage is the initial part of the product life cycle after the development stage. At this stage, the company launches a new product on the market. Synonym for this term is one of the launch stage and the pioneer
Premium Brand: Meaning, Advantages and Disadvantages
What's it: A premium brand is a brand that is positioned to have high quality and price. The company launched it to give an impression of exclusivity, notably to differentiate it from other mass-market brands.Launching a premium brand is a
Star in BCG Matrix: Meaning and Implications for Company Strategy
What's it: A star is a product with a significant market share and is in a high-growth market. It is one of four categories in the Boston Consulting Group Matrix (BCG matrix). The other three are:Two variables you will need to create a
Unique Selling Point: Meaning, Why It Matters, How To Develop It
What's it: A unique selling point is something that makes a product attractive to consumers and different from competitors. It can take various dimensions of a product, such as function, features, quality, performance, design, and sale price. A
Decline Stage of The Product Life Cycle
What's it: A decline stage is the last phase of a product life cycle in which sales volume decreases. The decline may be rapid to death, or it may take a long time, depending on the type of product. At this stage, the market may consist of only