What are the key pricing strategies for effective category plan implementation?
Pricing is one of the most important factors that influence the performance of a category plan in retail sales. A category plan is a strategic approach to manage a group of products or services that meet similar customer needs and expectations. To implement a category plan effectively, you need to understand and apply the key pricing strategies that align with your objectives, market conditions, and customer segments. In this article, we will discuss four common pricing strategies that can help you optimize your category plan implementation: cost-based, value-based, competitive, and dynamic.