is freemium pricing the new currency in commerce
TRANSCRIPT
Is Freemium Pricing the New Currency in Commerce?
Products and services are priced competitively in
order to gain and retain market-share..
There are different pricing strategies adopted by market
players. These include free, paid, EMI-based, etc.
Free Premium+ Freemium=Freemium is a portmanteau that combines the words
Free and Premium. Freemium is a pricing model that
lets users utilize a service without paying for it.
However, in order to access premium features, the
provider charges a fee.
Also, market players are using what is labelled as
“Freemium” pricing.
The popular IP telephony service, Skype, uses
this model. So do others such as Pandora, etc.
With increasing competition, innovative pricing
mechanisms help drive higher sales and
revenue..
Freemium pricing is increasingly being leveraged
in the mobile apps market.
App developers have found immense success by leveraging this model.
Games such as Farmville, Angry Birds, etc. use this pricing mechanism.
Reasons why users would be willing to opt for
paid versions or feature additions include:
A. Access to Premium Features
B. Immediate Tech Support
C. Feature Additions
D.Increased Security &
Protection
E. Access to Customer Support
F. Data storage on the cloud
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