#LIES OF P PRICE HOW TO#

Though it is important to plan for pricing changes and their impact on the brand and product perception, this can still be accomplished much faster than any other changes.Īny pricing decisions for a product need to be made through proper research, analysis and an eye on strategic objectives for the organization and the product. Similarly any promotion decisions will also require additional financial input. In comparison, a change to the product or to a distribution channel can take months and sometimes significant cost inputs. Pricing changes can be made quickly and with almost no lead time if the business needs to make some product positioning changes or to counter a competitor’s activities. Pricing is of vital importance because of the following reasons. However, pricing needs to be given its due attention since it has great impact on the rest of the activities and the company. These are often perceived as the more interesting aspects of the product and marketing mix. There is often a tendency for marketers to focus more on activities like promotion, product development, and market research while prioritizing their responsibilities.

#LIES OF P PRICE HOW TO#

In this article, we look at 1) why is pricing important, 2) pricing objectives, 3) types of pricing strategies, 4) how to price, and 5) pricing issues.

Lies of p price