Sales being made at Soulard Market, St. Louis, Missouri, drawing by Marguerite Martyn, 1912 A business can use 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 - Wikipedia](https://cdn-ak-scissors.b.st-hatena.com/image/square/bf755281bb93e6884d9bec72be8d1a31039a290f/height=288;version=1;width=512/https%3A%2F%2Fupload.wikimedia.org%2Fwikipedia%2Fcommons%2F5%2F51%2FDrawing_by_Marguerite_Martyn_of_Soulard_Market%252C_St._Louis%252C_in_1912.jpg)