Draw a diagram showing the various steps that are taken in
the pricing of a product.
Steps taken in pricing of a product.
FACTORS THAT INFLUENCE PRICING
Demand constraints & Cost Constraints
Competitor Prices & Other Constraints
Constraints
ESTABLISH PRCING OBJECTIVES
Price and sales-volume objectives
Other Objectives
DETERMINING THE BASIC PRICE
Cost-orientated methods
Demand orientated methods
Competition-orientated methods
PRICE ADJUSTMENTS NEGOTATING THE FINAL
Discounts PRICE
Geographic location
Product mix
Initiating and responding to
price changes
THE FINAL PRICE OF THE PRODUCT
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