Mkt mix - pricing

3 important questions on Mkt mix - pricing

A firm’s objective

the price charged by a firm will be influenced by its objective = the target it sets out to achieve.

The price of a product will be higher if the product:

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:

1. Penetration pricing
2. Price skimming
3. competitive pricing
4. Price taking

The question on the page originate from the summary of the following study material:

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