For the market of Fast Moving Consumer Goods, the competition is quite tough pertaining to the vast number of players in the industry. Moreover the variety of product lines is so diverse that consumers find a hard time in making a final decision. In other words, consumers pertain to show less brand loyalty in the context of Fast Moving Consumer Goods in the context of their protean range of choices amalgamated with the fierce competition going between companies dealing in Fast Moving Consumer products.
In the reflection of these facts, there are about six pricing strategies that shape up the pricing policies for companies involved in the manufacture of Fast Moving Consumer Goods. The first strategy is the product line strategy, which involves setting price steps between product line items. The second strategy is the optional product strategy that revolves around the notion of pricing optional or accessory products. As for the captive product pricing, it means pricing products that must be used with the main product. The fifth strategy of pricing is by-product strategy that involves low value by products to get rid of them. As for the last and final strategy, which is called the product bundle strategy, it means pricing bundles of products sold together.
In the reflection of these facts, there are about six pricing strategies that shape up the pricing policies for companies involved in the manufacture of Fast Moving Consumer Goods. The first strategy is the product line strategy, which involves setting price steps between product line items. The second strategy is the optional product strategy that revolves around the notion of pricing optional or accessory products. As for the captive product pricing, it means pricing products that must be used with the main product. The fifth strategy of pricing is by-product strategy that involves low value by products to get rid of them. As for the last and final strategy, which is called the product bundle strategy, it means pricing bundles of products sold together.