Description: Pricing strategy is the method that companies use to set the price of their products or services, which can affect profitability and market share. This strategy involves not only setting a price but also considering factors such as customer perception of value, competition, production costs, and market conditions. A well-defined pricing strategy can help companies position themselves in the market, attract different consumer segments, and maximize their revenue. There are various tactics within this strategy, such as cost-based pricing, competitive pricing, psychological pricing, and penetration pricing, among others. Each of these tactics has its own characteristics and adapts to different market contexts. In the realm of commerce, pricing strategy is particularly crucial, as competition is fierce and consumers have access to a wealth of information that allows them to easily compare prices. Therefore, companies must be agile and quickly adapt to market fluctuations and consumer expectations to maintain their competitiveness.
