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Pricing strategy refers to the strength of the cost that specified goods or services must be sold for on the market. Pricing of a product depends on numerous factors like production cost, marketplace location, competition, and market circumstances and goods quality. The purpose of a pricing strategy is to optimize the net income generated profit margin by the sale of specified products keeping in mind the common market forces and circumstances that influence them.
As mentioned above Market pricing is one of the most precious components of advertising mix that decides the accomplishment of goods. It would be uncertain for a corporation to set the cost of the goods an extremely high amount without having suitable brand value. To decide a cost of a good or service is pretty tough as it relies on diverse aspects, for instance, manufacturing cost, quality of the good, physical location, customer group, competition and financial situation.
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|Personal selling||Price elasticity|
|Methods for determining price||Economic factors in pricing|
|Pricing decisions||Markup and break even pricing methods|
|Methods for deciding on a pricing strategy||Price selection|
|Relationship and traditional selling||Pricing strategies|
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