Pricing method is the method followed in determining the price of a product. Pricing method must be appropriate in achieving the pricing objectives. There are many methods of pricing and each one of them is appropriate for achieving a particular pricing objective or combination of pricing objectives. The three major categories of methods used to establish product prices are cost-oriented [...]
Everything you need to know about the methods adopted for pricing of products. Pricing is the activity of determining the value of a product and expressing that in terms of money and offering the products to the market for sale at that price. Pricing involves the following aspects - determining the pricing objectives, identifying the pricing factors, market study, competition [...]
Everything you need to know about the factors affecting pricing decisions. A company's pricing decisions are affected by both internal and external factors. Internal factors include the company's marketing objective, costs and marketing strategy. External factors include the nature of the market, demand, competition and external factors. The amount of money charged for product or service or the sum of [...]
Everything you need to know about the factors affecting pricing policy. The organizational objectives are attained through pricing policy. The produced products should reach the customers. The important area that needs a discussion is price policy. There is not a single price which is universally applicable. The establishment of a 'standard price' is the impossible task. Because, price is a [...]
Everything you need to know about the types of pricing strategies. Pricing strategies are formulated using pricing policies and after consideration of overall consumer demand, business environment, and competitor's pricing policies, stages of product life cycle and product mix strategies of the company and other marketing objectives of the company. Companies may adopt different strategies to meet changing business objectives [...]