Everything you need to know about the importance of pricing. Pricing decisions can have very significant consequences for the organization It is one of the first considerations for many customers and it determines the profit margin on products. Pricing is one of the significant elements of the marketing mix, if late, it has come to occupy the centre stage in [...]
Everything you need to know about the types of pricing strategies. After selecting a pricing objective, you will need to determine a pricing strategy. This will assist you when it comes time to actually price your products. As with the pricing objectives, numerous pricing strategies are available from which to choose. Certain strategies work well with certain objectives, so make [...]
In order to formulate an appropriate pricing procedure for the firm certain general steps are to be kept in view. As we know pricing of product is a very complex problem; infact it is twilight zone between business interest and public good. A firm has to reconcile both these objectives. There cannot be a model process for pricing the products [...]