Pricing Strategies and Tactics
Objective 12-5 Discuss pricing strategies that can be used for different competitive situations and identify the pricing tactics that can be used for setting prices.
The pricing tools discussed in the previous section help managers set prices on specific goods. They do not, however, help them decide on pricing philosophies for diverse competitive situations. In this section, we discuss pricing strategy (pricing as a planning activity) and some basic pricing tactics (ways in which managers implement a firm’s pricing strategies).
Pricing Strategies
Pricing is an extremely important element in the marketing mix, as well as a flexible marketing tool; it is certainly easier to change prices than to change products ...
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