What is Strategic pricing vs tactical pricing?

Strategic pricing refers to the long-term approach of setting prices based on overall business goals, market positioning, and competitive landscape, often considering factors like customer value perception and brand strategy. In contrast, tactical pricing involves short-term adjustments and decisions, such as discounts or promotions, aimed at immediate sales objectives or responding to market conditions. While strategic pricing shapes the overall pricing framework, tactical pricing focuses on executing that strategy in real-time. Both approaches work together to optimize revenue and market competitiveness.