Expanding your business requires a strategic approach to pricing. Two effective pricing strategies that can drive growth and market penetration are penetration pricing and skimming pricing. Understanding these strategies and their applications can help you choose the right approach to achieve your business objectives.

Pricing lies at the heart of every business strategy, influencing revenue, profitability, and competitiveness in the marketplace. However, navigating the complex landscape of pricing requires a deep understanding of key terms and concepts. In this article, we'll demystify essential pricing terms that every business owner, marketer, and strategist should know to make informed decisions and drive success in today's dynamic business environment.