Industry WIKI

Good–better–best pricing, also known as Goldilocks pricing, is a tiered pricing strategy in which variations of a product or service are offered at multiple price levels. The approach typically presents three options, basic ("good"), mid-range ("better"), and premium ("best"), to influence consumer choice and increase overall revenue.

A business can choose from a variety of pricing strategies when selling a product or service. To determine the most effective pricing strategy for a company, senior executives need to first identify the company's pricing position, pricing segment, pricing capability and their competitive pricing reaction strategy. Pricing strategies, tactics and roles vary from company to company, and al