marketing pricing decission notes

Jul 6th, 2016
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the notes will help you learn about marketing strategies and decision marking when it comes to pricing it has helped many people be apart of it.

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Pricing decisionsBy Dr .Ronald BonukePRICING DECISIONS Price The amount of money, goods orservices that must be exchanged forownership or use of a product. Price is the money value of a good or service.Pricing objectives The pricing strategy used for particular products andproduct lines should support the marketing objectivesof the organization. Some of the pricing objectives: positioning objectives Sales (market share objectives Competition, related objectives Profit objectives Survival objectives Social responsibility objectives.POSITIONING OBJECTIVES Price supports the organizations effort toposition the product to serve particularmarket segments. Profit influences which potential customerswill buy the product. Some people will seekout the lowest price for a category of goods orservices. Others may use price as an indicatorof quality.Sales objectives ( Market Growth) The objective of setting price may be toachieve specific level of sales.Competition Related objectives A basic pricing goal may be to simply meetcompetitors prices. A marketer may price aproduct very close to or equal to acompetitors or to the average market price.Profit objectives Marketers at times price the products to target a specificlevel of [profit. The firm may decide on a desired return oninvestment (ROI) then identifies the price that as likely toresult in the specified ROI.Survival objective

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