It targets customers who want to feel unique

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With the success and spread of the product, the company may increase its price. Product Line Pricing This strategy depends on pricing a group of products that follow one production line, and here companies resort to relying on another factor to justify the difference in prices, such as quality. Bundle Pricing The most famous example of this strategy is the famous sentence “Buy one and get one free.” This sentence is the essence of this strategy, as companies rely on assembling products into a group and selling them at a lower price than the price of individual pieces. Psychological Pricing This type is considered one of the most popular pricing strategies, and here the company resorts to a slight change in the price of the product, making it 99.99 instead of 100. Despite the small difference between the two numbers, studies have proven that the first price gives the customer the impression that the product is cheap.

Value-based pricing Here, in the pricing process, the company depends on the value that the product represents to the consumer, and also on the reputation of the producing company, in addition to the cost price of the product. An example of this is artistic paintings that may be sold for large amounts that exceed the value of the cost of the tools and colors and the time taken to paint them, but the evaluation here is based on other considerations, such as Nigeria Email List the name. The artist and his history. Dynamic Pricing The pricing strategy here is based on a culture of supply and demand, where the company changes the price of the product based on several factors, including the type of customer, the size of demand in the market, and competitors’ prices. An example of this is the rise in hotel prices, airline tickets, and taxis at peak times. Amazon relies on this strategy, as it changes the price. Continuously based on real-time demand. International Pricing This strategy is for companies that provide their products to other countries, and here pricing varies depending on other countries’ policies, laws, taxes, and customs duties. Premium Pricing It relies on selling your product at higher prices than competitors in order to give your product a distinctive advantage. It targets customers who want to feel unique, but the company must work to create a truly high-quality product and pay attention to packaging and brand identity. Pricing according to market segment - Segmented Pricing A pricing strategy that depends on the difference in the price of the product depending on the location of the product launch and the difference in the target audience. An example of this is the difference in the prices of tickets to enter public places for students and graduates and workers. Promotional Pricing - Discount/Promotional Pricing It depends on attracting the target customer by offering offers and discounts on products. It aims to increase sales for a specific period and reach customers who are interested in prices. An example of this is clothing stores that use this type of pricing in order to increase sales in the qualifiers at the end of the season.



Place in the electronic marketing mix Place - Place The third element of the electronic marketing mix, which is meant by it, is all the outlets used to distribute the product, whether they are real, such as stores and boutiques, or digital: such as electronic stores, direct sales pages on Facebook or Instagram, or the delivery channels used to deliver the product to the customer. The place element plays an essential role in the process of marketing the product. Because it affects the purchasing decisions of target customers, so the location must be compatible with the product and price. To study the extent of the location’s influence on your product, you must know the answers to some questions, such as: Where are your products located and what are their selling points? Is the location where your product is located suitable?