A Research on "Effective Pricing Strategies of New Product"

Sandhya Sharma , Saloni Manglik , Vivek Kumar Singh , Aman Tripathi , Sumit Verma

Price skimming, Cost plus pricing, Break Even pricing, OTC

In order to maximize profits and maintain a new product's competitiveness in the market, a viable pricing strategy must be developed. There are various pricing structures to choose from. including package price for each strategy, cost-plus pricing, value-based pricing, skimming pricing, and penetration pricing. The data collecting results indicate that the prices of the things that businesses sell reflect the value assessments of their clients. Additionally, it illustrates how competition prices affect the acquisition of company things and how Internet pricing impacts and informs purchasing decisions. Our knowledge of several areas pertaining to pricing strategies and the decision-making process is improved by this study. Prescription and over-the-counter (OTC) drugs are the two primary categories into which pharmaceutical items fall. Whether a product is sold directly to consumers or to the medical community is the dividing factor. One of the most fascinating and contentious subjects in pharmaceutical marketing is price, Given the unique characteristics of the pharmaceutical sector, many approaches such as Cost-Plus Pricing, Break-Even Pricing, Value Based Pricing, Competition Based Pricing, and Economy Pricing are genuinely applicable and applied in the industry.

Published Paper   E-Certificate

"A Research on "Effective Pricing Strategies of New Product"", IJSDR - International Journal of Scientific Development and Research (www.IJSDR.org), ISSN:2455-2631, Vol.9, Issue 6, page no.215 - 220, June-2024, Available :https://ijsdr.org/papers/IJSDR2406022.pdf

Volume 9 Issue 6, June-2024

Pages : 215 - 220

Paper Reg. ID: IJSDR_211613

Published Paper Id: IJSDR2406022

Downloads: 000347101

Research Area: Pharmacy

Country: Greater Noida, uP, India

Published Paper PDF: https://ijsdr.org/papers/IJSDR2406022

Published Paper URL: https://ijsdr.org/viewpaperforall?paper=IJSDR2406022

ISSN: 2455-2631 | IMPACT FACTOR: 9.15 Calculated By Google Scholar | ESTD YEAR: 2016

An International Scholarly Open Access Journal, Peer-Reviewed, Refereed Journal Impact Factor 9.15 Calculate by Google Scholar and Semantic Scholar | AI-Powered Research Tool, Multidisciplinary, Monthly, Multilanguage Journal Indexing in All Major Database & Metadata, Citation Generator

Publisher: IJSDR(IJ Publication) Janvi Wave

This work is licensed under a Creative Commons Attribution 4.0 International License and The Open Definition