Types of Pricing Model:

Free (Attract a strong user base using this strategy)

Brands that want to have a large consumer base utilise this method. One of the primary goals of this strategy is to raise brand recognition.

Advantages:

• It aids many brands in revenue generation.

• It improves user engagement and enhances the likelihood of app downloads.

• The key to acquiring popularity with this method is advertising.

Paid (Used where brands have loyal customers and unique functionalities)

This strategy is not as successful as other options in which the user incurs no additional costs. The user would initially pay to download the software. Nonetheless, it only helps users.

Advantages:

• There is no need for advertising.

• The application itself generates revenue on its own.