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Factors Affecting Pricing Decisions in Marketing Strategy

Factors Affecting Pricing Decisions in Marketing Strategy

Answers

Faith
i) Marketing objectives — e.g. survival, profit-maximization and market leadership objectives
ii) Marketing mix strategy — e.g. Product, price, place and promotion used by each company
iii) Cost of production Within the organization and at different levels of production
iv) The type of market and its characteristics
v) Product’s demand in the market, low or high
vi) Consumers’ perception of price and value (psychological)
vii) Competitors’ costs, prices and offers
viii) Other macro-environmental factors — e.g. economic, technological, political, socio-cultural, e.t.c.
Titany answered the question on October 6, 2021 at 13:27

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