– Considerations for pricing:
– Acquisition cost of goods
– Manufacturing cost
– Market conditions
– Competition
– Brand and product quality
– Pricing in product management:
– Fundamental aspect
– Part of marketing mix (4 Ps)
– Price as revenue generator
– Other Ps’ impact on price elasticity
– Driving revenue and profits through price increases
– Factors affecting pricing:
– Fixed amount
– Quantity breaks
– Promotions or campaigns
– Vendor quotes
– Order, shipment, or invoice date prices
– Pricing automation:
– Manual vs. automatic pricing
– Preventing pricing errors
– Setup and maintenance requirements
– Converting consumer needs into demand
– Tactical decision in marketing
– Objectives of pricing:
– Company financial goals
– Market fit
– Supporting product positioning
– Consistency across categories
– Meeting or preventing competition
Recent Comments