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Pricing and pricing objectives
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is a written document that details the necessary actions to achieve one or more marketing objectives. It can be for a product or service , a brand , or a product line . Marketing plans cover between one and five years. A marketing plan may be part of an overall business plan . Solid marketing strategy is the foundation of a well-written marketing plan. While a marketing plan contains a list of actions, a marketing plan without a sound strategic foundation is of little use. Marketing process can be realized by the marketing mix in step 4. The last step in the process is the marketing controlling. In most organizations, ...
Pricing strategies generally fall into one of two groups: cost-based and market-based. The market-based approaches tend to focus either on the competition, customer demand, or both. There is no one best price to charge for a given product. Once the need to set or change a price has been recognized, the manager must determine what he or she is trying to accomplish with this particular price. The answer might seem obvious: to sell more products or services. But this response is too general, and may not even be the case. In fact, companies can have a number of different ... Read More
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