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Is a hook that the market uses in products with a low prices to induce and encourage to buy another product.

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-Economical price
-Price based on value
-Sliding price
-Penetration price
-Premium price
-Psychology price
-Geographical price

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Advantages:
-Price will cover costs of production
-Easy to calculate
-Suitable for price markers

Disadvantages:
-Doesn't take market conditions
-Tends to be inflexible
-If sales fall the costs will rise
-Not accurate for firms with several products

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Example

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Advantages:
It can be beneficial for consumers due to the lower prices.
Disadvantages:
Ilegal pricing strategy
It can develop a monopoly.
When they change their prices the consumers they go and look for new products.

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Advantages
-There are losses in one product but compensated by other products.
-An increase in market share.

Disadvantages
- Generic products might be sold by competition so profit-making from other products are not bought.

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Advantages:
-High profit margin that will help to pay for development costs of new products.
- Help pay expenses in the development of new products
Disadvantages:
-High prices might discourage consumers - unless they are convinced the integrated marketing mix justifies the high prices.
-High prices might encourage more competitors to enter the market.

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Is an strategy that uses different techniques to form a psychological impact on the consumer.
In this integrates sales tactics with the price.

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Advantages: Uses reachable prices  to charge different prices in benefit to increase the total revenue.
Disadvantages:
- Having different pricing levels
- Users paying higher prices to obtain the object and look alternatives.
- customers switch to lower- priced market

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Advantages:
-sales promotion
-personal selling
-public relationships

Disadvantages:
-Consumers may suspect that the price was changed and pretend they are discounted
-Consumers may think that the product is of lower quality

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Limit Pricing
Adavantages:
-Reduced competition. A low enough price limit can leave most of the market to a monopoly firm.

Disadvantages:
-Illegal. Cap prices are considered illegal in some government jurisdictions, so even giving the appearance of using cap prices could trigger a lawsuit.

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Advantages: Low prices load to high demand products
Market share for a new products

Disadvantages: Low margin of profits migth have to rise in trhe future

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An example of psychological pricing is an item that is priced $3.99 but conveyed by the consumer as 3 dollars and not 4 dollars, treating $3.99 as a lower price than $4.00.

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Advantages:
- It can secure the high profit margin to the company
- Increased participation of marking
- Lower unit costs so it remains more profitable

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Example

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Disadvantages
- Can be perceive as being predatory
- Only really operates effectively for products that are undifferentiated