Pricing focuses on how to measure customer value and how to use it to make pricing decisions.
There are number of influencing factors which are controlled by the conduct research to monitor what is happening in each market the company serves since the effect of the factors can vary by market.
Pricing is one of the most important elements of the marketing mix, which generates a turnover for the organization.Pricing is difficult and must reflect supply and demand relationship. pricing a product too high or too low could mean a loss of sales. Therefore price should be fixed and variables.
Pricing strategies are based much on what objectives the company has set itself to achieve.Where the organization sets a low price to increase sales and market share, and sets an initial high price and then slowly lowers the price to make the product available to the wider market,the objective is to skim profits of the market layer by layer, and the profit should be enough to live and still have money to reinvest.
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