The document discusses various pricing strategies that companies can use when setting prices for their products. It describes price makers as firms that have significant market power to set their own prices, while price takers operate in competitive markets and have little control over prices. It also outlines several cost-based strategies like cost-plus pricing and floor pricing. Additionally, it explains competition-based strategies like price leadership and market-led strategies such as penetration pricing, skimming pricing, and prestige pricing that are used to gain market share or target specific customer segments.

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