Mkt mix - pricing
3 important questions on Mkt mix - pricing
A firm’s objective
The price of a product will be higher if the product:
1.Has a unique selling point
2.Is perceived as being exclusive
3.Is in high demand
4.Is sold through exclusive outlets.
When a product is first launched into a market, a firm has to decide what price to charge. It has 4 options:
2. Price skimming
3. competitive pricing
4. Price taking
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