How Flexible Are You With Pricing Options?

[Cryptomultiplier]

Flexible pricing in business is a strategy for a product's final price negotiation. In other words, customers and sellers can get together and try to discuss prices, to either lower it or push it up from an original price. This also applies to the price of services too.
The potential of a more efficient marketplace is realizable seeing that buyers can more easily find prices of goods or services for which they are willing and able to afford.

What are some pricing tactics one can employ to hold or build market share during a recession?

[Rruchi man]

Good topic OP, would have been better if you expressed yourself much more with maybe an example of what you mean exactly and the point you are trying to hit. IMO, a simple example can go a long way in aiding readers to easily grasp the point of a discussion, and  not misinterpret it.

...customers and sellers can get together and try to discuss prices, to either lower it or push it up from an original price.

I think the discussion mostly between customers and sellers of product usually involves intense negotiation on price reduction and not increment.

[Hydrogen]

sellers can get together and try to discuss prices, to either lower it or push it up from an original price.

If sellers are coordinated and organized enough to set prices. Its no longer a market arrangement. It more closely resembles a monopoly. Which will typically lead to price gouging and reduced product quality and reliability.

Something resembling a monopoly on the consumer side, will usually resemble a boycott. Or the so called "retail movement" in stocks.

Its much easier for sellers to organize than buyers. They have the networking, communication channels and infrastructure.

Buyers tend to be more unreliable with less throughput on promises.

Each has their pros and cons. Which the majority of people do not understand. Considering most seem to not comprehend how the price of healthcare has become overinflated around the world.

[lovesmayfamilis]

Any buyer will always lower the price, and this price is unlikely to suit the seller. Therefore, there are different markets for goods. In my country, the central markets are always more expensive, and the prices for goods there suit buyers since the stratum of the population itself is better off.
But exactly the same goods can be purchased at a different price if you go away from the center of the country. Those who are not satisfied with one price can always afford lower prices with just some effort.
But all the same, buyers' demands will aim at lowering prices simply for the sake of profit.

[Razmirraz]

The main point is that the seller wants the goods at the highest price, while the customer wants to bid at the lowest price.
If the seller puts up a high price, of course, it will make purchasing power drop drastically. Meanwhile, if the goods are sold at a low price expected by the customer, it will cause a loss to one party (the seller). Therefore, it is necessary to balance the market to create the same supply and demand conditions.
To create an increase in purchasing power, it is necessary to agree on a price that is willing to be bought and sold by both parties, this price agreement creates the principle of market equilibrium because sellers and customers are both happy after the transaction.

[Gayong88]

What are some pricing tactics one can employ to hold or build market share during a recession?

The movement of the economic recession is still in the alert category and alert if I'm not mistaken. One business can close its door, and another can open next to it. Flexibility is an important component of any pricing strategy, and that's why you need to be able to adjust prices on the products and services we develop because market forces can change quickly. and this I think is important for businesses to be flexible with their pricing tactics in order to be successful.

[BitcoinPanther]

What are some pricing tactics one can employ to hold or build market share during a recession?

One strategy is giving discounts, overpricing the product and announce to the whole world that they are having a 50% discount.  Pricing tactics is like a game of chess, of course seller always put a huge margin so that when it comes to pricing discount negotiation, they can still give the requested discount of the customer while not affected by the said discount.
Another thing is package selling in a "discounted price".  This way they can sell non-saleable items together with the hot item.  This strategy is known to clean up the locker of unsaleable or unpopular items.
So a good selling strategy is to make it look like that they are giving in to the demand of the buyer but they actually are not affected by the decrease in price of the item.

[Jody.Drummer]

Maybe you mean tactics like buy 1 get one free promotions or with various other offers when consumers buy goods from them will get some added benefits. In the marketing category and if you learn from people who are deep into how product promotion works, it might be easier to understand. Because usually marketing techniques like this have procedures or training. One of them leads to good communication with customers and also how to lead opinions in bringing consumers to be interested in the goods we offer. So that there is an intense, enjoyable price negotiation that makes it seem as if the customer is benefiting from the item.

[BIT-BENDER]

I would choose to call it bargaining and it's a skill anyone who want to get the best deals for the cheapest price should have, well I always do it especially on things that doesn't have any fixed price, my strategy on this is simple.

#Have good knowledge of what you bargaining to buy by knowing so the seller would have a sense of respect for you, acknowledging the fact that you really understand the goods well.
#knowing the actual price of the goods (you can get lust by this, and the buyer can tell you other wise)
# always have an alternative option a good one at that, this can help you to look less desperate.
# be more consistent with a reliable dealer that you had carried successfully deals with.

Price bargaining can also help in trying to have business in crypto-currency via p2p I have personally been able to get cryptos at good rate and also sell at good rate through my flexibility.

[virasisog]

Maybe you mean tactics like buy 1 get one free promotions or with various other offers when consumers buy goods from them will get some added benefits. In the marketing category and if you learn from people who are deep into how product promotion works, it might be easier to understand. Because usually marketing techniques like this have procedures or training. One of them leads to good communication with customers and also how to lead opinions in bringing consumers to be interested in the goods we offer. So that there is an intense, enjoyable price negotiation that makes it seem as if the customer is benefiting from the item.

Good and open communication will always be the key. Know yhe demand of yur customers and have enough idea on the type ofnL products that they will prefer.  Always consider the opinion and suggestions of your customers and always make them feel valued so they will always pick you despite the strong business competition in our society these days. Bonuses and promotions is also a good strategy to attract more customers.

[Marykeller]

There is always an existing price for any given product. What price Mr A sells, is what Mr B sells(all the same). There is this logic I do apply before getting any product. I make enquiries about it online to find out the exact price of a particular product example gadgets, I am to buy. With that kind of step, I will be able to know how to go about negotiating the price of a particular product.

[Fortify]

Flexible pricing in business is a strategy for a product's final price negotiation. In other words, customers and sellers can get together and try to discuss prices, to either lower it or push it up from an original price. This also applies to the price of services too.
The potential of a more efficient marketplace is realizable seeing that buyers can more easily find prices of goods or services for which they are willing and able to afford.

What are some pricing tactics one can employ to hold or build market share during a recession?

This seems like a bit of a bizarre question, are you asking from the point of view of a consumer or are you asking from the point of view of a business? If you are a consumer, then you are likely to find much greater bargains in the middle of a recession when it comes to high cost items like furniture or cars, so if you have savings in a secure place and can delay those sorts of purchases, now might be a good time to hold on to cash considering all the recession indicators flashing. As a business, you might just be struggling to stay afloat during a recession and only the super big companies or those in recession proof industries will be able to try to claw back some market share - for many the main strategy will be just to cut costs as much as possible and just survive.

[Darker45]

The problem I have always noticed when it comes to flexible pricing is that it is normally offered by small entrepreneurs only. These small-time businessmen provide the opportunity for their clients to haggle with the price. They could end up profiting very little or even simply break-even.

This practice is generally good. It's just that it seems unfair because huge grocery stores and shopping centers and malls, those large companies that earn millions or even billions, do not do this at all. They provide fix prices to their goods and services. They simply don't compromise their profit.

In times when the economy is not in its best form, these small entrepreneurs are indeed a big help. And I think providing flexible prices will make them attractive to end consumers.

[yhiaali3]

It is natural for the seller to try to raise the price, while the buyer, on the contrary, will try to reduce it. In the event of a recession, there are not many options for the seller because the markets are full of goods and the demand is low, so he will have to reduce his prices in order to dispose of his goods. The competition in this case is to reduce prices, not raise them. Because everyone wants to sell his goods, the best solution is to search for new markets to sell products or store them well until the time of increased demand.

[Strongkored]

The seller can be flexible to determine the price with the buyer but of course, it will not damage the price of the goods to be sold, the seller should not lower it according to what the buyer wants if the price the buyer wants is unreasonable and harms you as a seller. Especially when you sell goods that are widely sold in the market, then you have to consider if you want to lower the price so as not to damage the market price of the item.

[Moneyprism]

negotiation skills are very necessary to be successful in transactions like this .. but we know that not everyone can be successful in negotiating,,, and realizing this we need to know the general market price and bid slightly lower than the target price that we have set , if we can't negotiate we can ask a third party and give it fees for the transaction.. the point is to understand the seller, don't bid too low and let the expert complete the transaction if you can't

[Kakmakr]

flexible pricing will not work with large companies, because the sales person is just an employee of the large corporation and he has no mandate to haggle for lower or higher prices. This will also create a lot of confusion and complexity with the accounting side of large corporations like this, because they work with fixed markups and discount systems.

A small informal business are totally different and you can haggle for a better price, because the sales person are usually the owner or someone in the family that are running the operation. (This is more suitable for a Market environment, where you have loads of small stalls and a lot of competition)

I have to say, there are large "Malls" ....in places like Singapore, where you have tons of small businesses that compete for business and it is a lot of fun to haggle with these sales persons. 

[Jody.Drummer]

Maybe you mean tactics like buy 1 get one free promotions or with various other offers when consumers buy goods from them will get some added benefits. In the marketing category and if you learn from people who are deep into how product promotion works, it might be easier to understand. Because usually marketing techniques like this have procedures or training. One of them leads to good communication with customers and also how to lead opinions in bringing consumers to be interested in the goods we offer. So that there is an intense, enjoyable price negotiation that makes it seem as if the customer is benefiting from the item.

Good and open communication will always be the key. Know yhe demand of yur customers and have enough idea on the type ofnL products that they will prefer.  Always consider the opinion and suggestions of your customers and always make them feel valued so they will always pick you despite the strong business competition in our society these days. Bonuses and promotions is also a good strategy to attract more customers.

This is also quite important to do because indeed communication is the most important thing that must be maintained, on the other hand we also have to be smart to read things like this such as consumer desires and some techniques in sales such as playing psychological tricks on the products we sell and being smart to read the situation and situation and what consumers need.

[justdimin]

One strategy is giving discounts, overpricing the product and announce to the whole world that they are having a 50% discount.  Pricing tactics is like a game of chess, of course seller always put a huge margin so that when it comes to pricing discount negotiation, they can still give the requested discount of the customer while not affected by the said discount.
Another thing is package selling in a "discounted price".  This way they can sell non-saleable items together with the hot item.  This strategy is known to clean up the locker of unsaleable or unpopular items.
So a good selling strategy is to make it look like that they are giving in to the demand of the buyer but they actually are not affected by the decrease in price of the item.

I mean there is also the great idea to have a huge price option and then a smaller realistic one, that will make people buy it a lot better. For example you could have a "small package" and then "medium package" and then "big package" type of options, then price them 9.99, 19.99, and 99.99.

If you do that then 19.99 will look like a steal and people will buy that a lot, even if they didn't wanted to buy, if it looks like it is a steal then it will get into their minds and they could buy it. However, if you did it 9.99 and 69.99 and 99.99 then it wouldn't look like a steal for medium and maybe small would go, and yet if you do 49.99, 59.99 and 69.99 so close to each other then it would mean nothing at all.

[traderethereum]

Providing discounts for buyers who want to buy in a certain quantity and turning several items into one package so that buyers can get other items at once may be a common thing for one company.
This method is considered to attract buyers to return to shopping in addition to offering newly released products at low prices.
But usually, buyers will browse their products and compare them with other stores to find the right price for them to buy them.
But anything the stores do can attract a buyer to return to them, especially if they can give their best services to the buyer.