The pricing strategy
Example: Pricing strategy sets product prices to maximize revenue and competitiveness
Definition
"The pricing strategy" refers to a plan or approach used by businesses to set product prices with the goal of maximizing revenue and maintaining competitiveness in the market. It involves analyzing costs, customer demand, and competitor pricing to determine optimal price points.
Etymology
The term "the pricing strategy" combines "pricing," derived from the verb price, which comes from the Old French "pris" meaning value or price, and "strategy," which originates from the Greek word "strategia," meaning the art of generalship. Together, they describe the artful planning of setting prices.
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"The pricing strategy" appears in the Vocaplus list "English - Entrepreneurship - (A1-C2) - set 1", containing 110 commonly used words.
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