Two-tiered pricing refers to a system under which commodities for domestic use are supported at one level and those for export markets at another, lower level. In a two-tier pricing strategy, the product or service is structured into two distinct tiers. The first tier typically offers a basic version or a limited set of features at a lower price, targeting cost-sensitive or entry-level customers.
Benefits of Two-Tier Pricing
Two-tier pricing can help operators save money on fees and increase profits. Having two-tier pricing means you’ve paid for the cost of your card reader, and then some.
Understanding Tiered Pricing
Tiered pricing is a pricing strategy that scales the price of a product according different thresholds of a certain metric. Customers can choose between pricing tiers, ranging from “Bronze” to “Platinum." By tiering the price based on factors like number of users, businesses can offer plans that fit their customer needs best and get the most value for their dollar.
Magento Commerce Cloud Pricing
Magento Commerce Cloud edition is a paid version of the platform offering various advanced features. The pricing for Magento Commerce Cloud varies depending on the specific tier and features selected. The pricing plans start at $2,000 per month and go up to $5,000 for the most advanced plans. Magento Pricing Model for all three tiers: Magento Pricing Plans. Cost per Month.
Implementing Tier Pricing in Magento
Magento 2 Tier Price extension by Meetanshi allows displaying tier price in either table or label format and is designed to improve the layout of tier pricing to enhance customer’s shopping experience. It offers an automated pricing table that makes it easy to compare the price of products for different quantities. Customers are tempted to purchase bulk quantities as discounts are offered on bulk purchase. Prices of the products can be changed dynamically depending on the quantity selected on the product page using the Magento 2 Tier Pricing extension.