Page 35 - MARKETING MIX

Market Skimming Pricing PRICING

Setting a high price for a new product to skim maximum revenues layer by layer from the

segments willing to pay the high price; the company makes fewer but more profitable sales.

Market Penetration Pricing

Setting a low price for a new product to attract a big number of purchasers and gain a huge

market share.

Economy Pricing

Putting a new product on the market at a very low price. Low-cost, no-frills location. Soups,

spaghetti, beans, and any other product with a ‘economy' brand are the examples.

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