Pricing strategies are essential for businesses aiming to maximise revenue and market share. In microeconomics, these strategies depend on factors like market structure, consumer demand, and production costs. From cost-plus pricing to penetration pricing and price skimming, each strategy influences how a firm competes and attracts customers. Understanding the theory behind pricing strategies enables businesses to set competitive prices while meeting their financial objectives. This article explores various pricing strategies and their role in shaping business success.