target recently priced televisions below cost in order to attract customers, hoping to make a profit on other items the customer would buy while in the store. Loss leader pricing strategy did target use.
A pricing strategy is a plan or technique for choosing the most competitive price for a good or service. It assists you in setting pricing while taking customer and market demand into account in order to optimise profits and shareholder value. There are several steps involved in pricing; if only it were as straightforward as its concept.
Pricing is crucial because it establishes the value that your products hold for both you and your consumers. Customers may determine whether an item is worthwhile of their time and money by looking at the tangible pricing point.
So, loss leader pricing strategy did target use.
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