High Price Strategy - Definition & Meaning
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.
This article has been researched & authored by the Business Concepts Team. It has been reviewed & published by the MBA Skool Team. The content on MBA Skool has been created for educational & academic purpose only.
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