Price • Very important element of marketing mix as it determines profit earnt per unit, influences customers decision to buy or not and contibutes to products image. Factors to consider ...
Filetype Power Point PPTX | Posted on 28 Aug 2022 | 2 years ago
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...Price very important element of marketing mix as it determines profit earnt per unit influences customers decision to buy or not and contibutes products image factors consider disposable income target market the must be affordable take into account average its product a set reflect desired luxury premium high end branded should have suggest exclusivity quality competitors that in line with firms chosen positioning cost producing promoting selling covered whilst yielding for business if changes firm may increase demand higher can charge company monopoly due pricing strategies skimming charging new innovative recoup r d expenditure used patent without direct competition psychological lower e g sounds cheaper than penetration this is where uses low gain entry strong once share has been established customer base built up usually increases discriminatory different prices are charged groupings same relation age economic grouping time booking etc...