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Discuss three influences on your company's pricing decisions. Is the pricing consistent with your company's objectives? Why or Why not? What is your consumers 'perceived value of the product or service being offered and how has this affected the pricing strategy?

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The response addresses the queries posted in 633 Words, APA Reference

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The response addresses the queries posted in 633 Words, APA Reference

Company's Pricing Strategy
Pricing Decision

Pricing forms the part of vital decision that is taken by an organization. There are numerous factors that influence the company's pricing decision. Below are the three factors that influence the pricing decision of a company (Pricing Decision and Cost Management, 2004):

Ø Marketing objective: Pricing decision is greatly influenced by the numerous objectives. Four major marketing objectives influencing price are as follows:

o ROI (Return on Investment): Sometimes Company's marketing objective is that the product should acquire certain percentage of return on the spending incurred by organization for marketing the product. Thus, return level along with sales estimation assist in determining price.

o Cash flow: Sometimes Company's focuses on ensuring that revenue obtained from sales would at least enclose the cost associated with the product production and marketing. This is observed in the case of new products.

o Market Share: Sometimes the company's main objective is to have a hold over new ...

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Ashish Sharma, MBA (IP)
Education
  • MBA (IP), International Center for Internationa Business
  • BBA, University of Rajasthan
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