Include a cost base strategy in our pricing analysis. (Just put that we were also including cost base strategy in our pricing Analysis)

8:36 PM A . 55% Find . advantages compared to its disadvantages as a newbie in cleaning products business. Pricing Analysis Pricing can affect everything about how your product is received by the market. That is why it's critical to understand the importance of pricing strategy. A price that is too low may not generate enough interest or have enough of a margin for profit. Set the price too high and you may also lose customer's interest (Taylor Wells 2022). Cleanerds Business may instead decide to use penetration pricing to establish a technology standard. "Penetration pricing makes sense when you're setting a low price early on to quickly build a large customer base," says Dolansky. (2021). Cleanerds Arellano Street, Dagupan City, Pangasinan, Philippines 2400 17/83 www.up.phinma.edu.ph | +63 75 522 5635 | 0995 078 5660 10 UNIVERSITY PHINMA EDUCATION PANGASINAN PHENMA SDUCATION NETWORK Business may instead decide to use penetration pricing to establish a technology standard. Pricing for market penetration is essentially the opposite of price skimming. Instead of starting high and slowly lowering prices, you take over a market by undercutting your competitors. Once you develop a reliable customer base, you raise prices. Many factors go into deciding on this strategy, like your business's ability to potentially take losses upfront to establish a strong footing in a market. It's also crucial to develop a loyal customer base, which can require other marketing and branding strategies (Emily Heaslip 2021). Competitor Pricing Table 2.4 Competitor Pricing Brand Name Net weight Price Tide to go 10ml Php 187 Lil Bully 10 m Php 67 Dr. Clean 10ml Php 113 OxiClean 22ml Php 179 Clorox 10ml Php 269 Cleanerds 10ml Php 79 The table shows the competitor pricing and its equivalent net weight for the commercially available competitors. The leading brand with the highest price is the Clorox with Php. 269, next in line is the Tide to Go with Php. 187, to be followed by Arellano Street, Dagupan City, Pangasinan, Philippines 2400 www.up.phinma.edu.ph | +63 75 522 5635 | 0995 078 5660 17