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Running head: PRICING DECISIONS
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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