A Practical Managerial Approach
In this chapter, pricing is presented as an element of the overall marketing mix. The chapter begins with discussing the fundamental issues of pricing, such as the definition of pricing; internal factors that affect the overall pricing decisions (objectives of the product and other elements of marketing mix); and basic aspects of pricing: costs, competition, and consumer. Methods of price setting are explained in detail. The chapter concludes with a discussion of pricing strategies: market-skimming, market-penetration, and market-competitive pricing.
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