Product Pricing

Product pricing in product marketing refers to the strategy used to set a price for a product based on various factors. This includes production costs, competitors’ prices, target market demand, and perceived value. The goal is to choose a price that not only covers costs and generates profit but also attracts customers and remains competitive. Effective pricing can influence consumer perceptions and purchasing decisions, making it a critical part of marketing strategy. Different approaches, like discounts or premium pricing, can be employed based on the product's positioning in the market.