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Characterization of Product Mix Pricing

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Characterize each of the product mix pricing strategies in a clear and easy to understand format.

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This solution characterizes product mix pricing strategies

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Marketers have essentially four variables to use when crafting a marketing strategy and writing a marketing plan. They are price, promotion, product and distribution (also called placement).
<br>There is no standard way to determine price, however here are the steps used in pricing strategies:
<br>1. Development of marketing strategy--here you perform marketing analysis, segmentation, targeting and positioning.
<br>2. Make marketing mix decisions--define product, promotional and distribution tactics.
<br>3. Estimate the demand curve.
<br>4. Calculate costs--estimate variable and fixed costs associated with the ...

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