Business Finance
Pricing Decisions, management homework help

Question Description

Pricing Decisions

The price of an item is an important component of decision making in procurement, but is not the only factor for a final decision. Write a three- to -four page, APA style paper that reviews the overall components of a pricing strategy. Include examples from external research to support your views. Describe a company that has used a purchasing strategy to improve the financial impact of the company. Use at least one scholarly source from the Ashford University Library to obtain examples.

Final Answer

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Pricing Decisions
University Affiliation
Date of Submission


Components of Pricing Strategy

Pricing of products is a very important issue in any business enterprise and therefore
management should make a sound decision when deciding on prices of their products. Giving
appropriate prices to products and service that yield maximum profit to the company is the best
thing. However, there are other factors to consider apart from pricing in order for the company to
be successful. One of the considerations to be taken by any company is the cost of the products.
Deciding on appropriate cost that will attract more customers to yield maximum profit is what
most business decision makers consider. Before deciding on appropriate cost, it is good to know
the cost structure within and outside for example, both direct cost and other costs such as trade
discounts and expenditures.
Customers play a major role in any company and they are the major stakeholders in any
business enterprise. Therefore, in order for the company to be successful, it should give its
customers first priority. The management ...

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