Pricing Strategy for Shankara Skincare Products in the Global Market

Abstract

Today, the skincare market segment is the fastest growing industry than any other part of the beauty industry. The reason being that there are a wide variety of products with benefits. Now, in that segment another segment has been added and that segment is the segment of Ayurvedic Skincare products. The Ayurvedic Skin Care products are based on ancient Indian medicine. These products provide natural care to the skin and at the same time avoid the use of any chemical substances that might adversely affect the skin of a person. These products are said to be the closest one can get to nature. Now, talking about the Shankara Ayurvedic Skincare company, the company believes in a world where natural beauty is celebrated. The company exists to modernize the ayurvedic skincare, to inspire positivity and celebrate radiance in people of all ages. The products produced by shankara are 100% chemical free and it is completely natural. Since, the products are natural hence the price of each of the products is also higher than normal skincare products. This research talks about the various competitors in the current Ayurvedic skincare segment who are competing with shankara to get a hold of the top spot in this segment. We will look into various competitors of the same category and the same segment and look at what kind of pricing strategy they are following for their own product. We also look at the various pricing strategies that are generally followed by putting a price on the product. We will also discuss about the major factors that determines the pricing strategy for any company and best suitable one for Shankara.