Price is often the most difficult portion of the marketing mix to get right. The final price can affect the design, the production, the profit, and your brand image. In deciding how to manage pricing, there are 6 considerations: Company Objectives Try not to ignore your company’s mission statement when establishing pricing strategies. For Example, […]
As a company’s goals and mission statements change and develop over time, products evolve through their life cycle, and external market forces create new treats and opportunities, the price of a particular product must change. Although there are legal limitations to how flexible prices may be, price flexibility is still possible. There are generally 4 […]
The price of an item is more than just a sequence of numbers and a decimal point. In actuality, the Price is any value exchanged for a good or service. A variety of terms can be used in place of price, including wage, salary, commission, interest, tuition, and rent. The price is whatever you exchange […]
