PRICING AND PROMOTION STRATEGIES

Review the following article:

Maguire, A. (n.d.). 6 different pricing strategies: Which is right for your business? Retrieved from https://quickbooks.intuit.com/r/pricing-strategy/6-different-pricing-strategies-which-is-right-for-your-business/

Six different types of marketing pricing strategies are mentioned in the above article. In a 3 page paper, complete the following:
• Rank each of the 6 pricing strategies in order of the effectiveness for health care (where 1 identifies the most effective strategy to use in health care). THIS ORDER

  1. Pricing Psychology
  2. Price for Market Penetration
  3. Pricing premium
  4. Bundling Pricing
  5. Economy pricing
  6. Pricing skimming

• Provide a detailed overview of each of the 6 pricing strategies, discussing their positives/negatives as it applies to health care.

• Discuss what is meant by “Price Transparency” in health care, and its effects.
USE THESE REFERENCES:
Epstein, W. N. (2017). PRICE TRANSPARENCY AND INCOMPLETE CONTRACTS IN HEALTH CARE. Emory Law Journal, 67(1), 1-58. Retrieved from https://search-proquest-com.ezproxy.trident.edu/docview/1965560174?accountid=28844
Somervuori, O. (2014). Profiling behavioral pricing research in marketing. The Journal of Product and Brand Management, 23(6), 462-474. Retrieved from https://search-proquest-com.ezproxy.trident.edu/docview/1633961928?accountid=28844
Jobber, D., & Shipley, D. (2012). Marketing-orientated pricing. European Journal of Marketing, 46(11), 1647-1670. doi:http://dx.doi.org.ezproxy.trident.edu:2048/10.1108/03090561211260022
Mackey, T. K., Cuomo, R. E., & Liang, B. A. (2015). The rise of digital direct-to-consumer advertising?: Comparison of directto- consumer advertising expenditure trends from publicly available data sources and global policy implications. BMC Health Services Research, 15(1), 236–244. https://doi-org.ezproxy.trident.edu/10.1186/s12913-015-0885-1
Mackey, T. K., Cuomo, R. E., & Liang, B. A. (2015). The rise of digital direct-to-consumer advertising?: Comparison of directto- consumer advertising expenditure trends from publicly available data sources and global policy implications. BMC Health Services Research, 15(1), 236–244. https://doi-org.ezproxy.trident.edu/10.1186/s12913-015-0885-1
Knopf, A. (2014). Price transparency in healthcare: A movement takes hold. Behavioral Healthcare, 34(3), 42-3. Retrieved from Trident University Library.