right pricing strtegy leading to sucess or breaking of an organisation Free Essay, Term Paper and Book Report
Pricing a product has always been a matter of discussion at management level. Developing a price strategy for an organisation is to get the right price for a product. Price is often regarded as the amount of money which cost to manufacture the product and make it ready for sale. Pricing a product can decide the survival or disappearance of the company from the market. Marketing and sales representatives have to consider these four components to fix a right price- (they are costs, price sensitivity, competition, product lifecycle). An organisation survived when they covers the cost of the product and profit gain will contribute towards the existence and survival of the industry.
UK is a very competitive market where prices are regarded as a powerful means to attract customers. Recession has affected the price of the product at different market. Price increase in purchase value has affected the consumers, they most likely to bargain the price of the product than buying at asking price.
Cost of production
On setting up a business pricing a discussion is need to be thoroughly......
Word Count: 2472
Page Count: 9.8 (250 words a page / double spaced)
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