The need to set a price initially arises when a company develops a new product, intends to export an existing product through new distribution channels, or submits it to a new area, or offer a tender to perform certain contract work.

The process of developing a company's pricing strategy includes the following steps: 1. Identify of internal and external factors; 2. Setting pricing goals; 3. Choose pricing methods; 4. Defining the company's pricing strategy.

The company will develop a pricing strategy based on product characteristics, ability to change prices, production conditions (costs), market condition, supply and demand ratio.

Pricing strategies vary depending on what stage of the life cycle the product is. The biggest challenge is the presentation stage. When launching a new product, the company has to decide what price to put on it. A choice has to be made between the two strategies - so-called "skim off the cream" pricing and market penetration pricing.

In the article is discussed the peculiarities of the process of determining the pricing strategy by retail companies in the Georgian mineral water market.