Product line pricing
Product line pricing is a pricing strategy where a company sets different prices for different products within the same product line. This strategy allows companies to target different market segments based on pricing and perceived value.
Product line pricing can help companies maximize profits by offering a range of products at different price points to appeal to various customer segments. It can also help create differentiation among products in the same line, as customers may be willing to pay more for certain features or benefits.
However, product line pricing can also be challenging to manage, as companies need to carefully assess the value of each product in the line and set prices that are competitive yet profitable. It is important for companies to understand their target market and pricing strategy to effectively implement product line pricing.