High Price Strategy
This article covers meaning & overview of High Price Strategy from marketing perspective.
What is High Price Strategy?
Pricing is the most important element for any marketing strategy. This is the point when the consumer decides whether to buy or not.
High Price Strategy is pricing strategy in which the company or manufacturer keeps the price of the product on the higher side when compared to similar products(or competitor) products in the market. This pricing strategy also is a marketing strategy because the high price makes the product look premium when compared to others.
Example:
iPhone and Samsung's flagship phones are priced at premium in the beginning. This is High Price or Premium Strategy.
High pricing may be stopped once the product is established to cover more market but some products continue to be High Priced to remain premium throughout.
Browse the definition and meaning of more similar terms. The Management Dictionary covers over 1800 business concepts from 5 categories.
Continue Reading:
