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penetrate... even if it means you have to accept low or no profit margins. This
pricing technique, referred to as “buying market share,” comes at a “cost”,
no doubt about it. You are foregoing the additional profits of a higher price to
“buy” this larger percentage of the market.
There is one school of thought in marketing that says that “market share
dominance” is the most important factor in the marketplace. The Net raises
the bar to alpine levels...
If you’re pricing high on the Net, you better have a unique and
patented product. Even then, you’re begging for someone to attack you with
vicious price-cutting.
2.4.2. Top Pricing
The opposite strategy to penetration is top pricing. Here the price is
deliberately set high in order to reap large profit margins. This is usually at the
cost of failing to capture a large number of customers.
The most valid reason to use this price strategy? You are launching a hard
good that is radically new and significantly better than the competition, and you
have strong patent protection. The high price attracts and does not deter
“pioneers.” This strategy helps to recoup your capital costs. Who, or what,
are...
... pioneers?
They are people who want something which nobody else has yet. Pioneers are
not afraid to be “first” or “unique” -- actually, it’s a badge of honor to be “first one
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on the block.” They are not particularly concerned about price. Often, to their
way of thinking, high price indicates quality.
Such must-have, open-wallet customers are your best friends. If you can
equate uniqueness and quality with your price statement, substantial profit will
surely follow. In the short term, you receive a good income from the highpriced