AQA GCSE Business · 8132
Paper 2
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GCSE Business · key term
An approach a business uses to decide the price it charges for a product or service.
Used by AQA and OCR
Paper 2
Paper 1
An approach a business uses to decide the selling price of a product.
Revise: Pricing MethodsA pricing method is the approach used to decide a selling price. Some methods focus on a product’s launch, some start with costs or competitors’ prices, and others use temporary offers to encourage purchases.
Link each point to the business: explain how its customers, costs, rivals or product make a pricing method suitable.
Apply your explanation to the business: its reputation, product, customers and competitors help explain whether a pricing method is suitable.
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