Have you ever seen those TV shop commercials for knives and such household items on TV? One such commercial goes like this: The presenter spends 20 minutes of the half hour showing you one or two knives that do several things. Then he announces the price, say around Rs 459 or Rs 739. Seems high, …but wait. If you order right now he’ll throw in the three vegetable knives, the corkscrew blade, the melon ball maker, the juicer knife, the grapefruit knife, all for free. Instead of 10 to 12 knives for your Rs 739, you bought two knives for Rs 739 and got seven free. What a deal! It is not the price of the knives but how the price was presented that makes the difference.You need to be very creative when it comes to pricing options. There are broadly three pricing strategies: premium pricing, perceived value pricing and value-in-use pricing.
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