'Describe Various Pricing Approaches Available To Retailer?'

There are various pricing strategies which the retailers can use to price their products. I will be discussing few of the approaches. The first approach is the premium pricing approach in which the company charges higher prices because of the product differentiation or uniqueness. Secondly there is penetrating pricing in which the prices are kept low to make the market image and to increase customers base. Third approach is the economy pricing in which the minimum cost is charged and profit margins are kept very low. Moreover, details about the skipping price, psychological pricing, captive pricing, bundle pricing and promotional pricing are available on the link:

Pricing approaches