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Chapter # 16Chapter # 16
Developing pricingstrategy
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Price
is the amount of money charged for a productor service or the some of the values that consumer exchange for the benefits of having or using theproduct or service.Fixed pricing– setting one price for all buyersDynamic pricing– charging different pricingdepending on individual consumers and situations.
Pricing
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Importance of Pricing
•Price is the only one element of marketing mix thatcan generate revenue•Most flexible element of the marketing mix
Many companies do not handle pricing well -• One problem– Companies are too quick to reduceprice to get sale rather convincing buyer that their product are worth a higher price ;• Other mistake– pricing is too cost oriented rather customer value oriented.
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Mkt Mgt # chap16 Pricing
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