Answer to Question #294709 in Marketing for Ruth

Question

What differ food Price from other types of price

Answer 1

Food prices refer to the average price level for food across countries, regions and on a global scale. Food prices have an impact on producers and consumers of food. Food prices do differ from other prices for example; Premium pricing is a type of pricing which involves establishing a price higher than your competitors to achieve a premium positioning. You can use this kind of pricing when your product or service presents some unique features or core advantages, or when the company has a unique competitive advantage compared to its rivals.

It also differ from Penetration pricing which is a commonly used pricing method amongst the various types of pricing and is designed to capture market share by entering the market with a low price as compared to the competition.