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Pricing Strategy Assignment Help in UK

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Pricing Strategy

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Pricing Strategy Assignment Help In UK

     

Get Pricing Strategy Assignment Help in UK

 

Price is the amount that the customer pays for the product, for the satisfaction of needs and demands that the customer has made with the purchase of the product. The strategies for marketing purposes under this includes price strategy, price tactics, discounts, mode of payments either by online mode, credit card payment or cash payment or cash on delivery i.e. preferences to the customer’s need should be there.Pricing is one of the most important components of marketing mix or 4P’s of Marketing. It is up to a business organisation that what prices they set for the products and services that they provide to attract the people and increase the demand of product too. Pricing is the one and only component through which an organization can cover the expenses and can gain profits but at the same time it should be enough affordable by the consumers, so these all strategies should be known before launching a new product. Pricing of a product can be used as a defend for new entrants in the existing market or can be used  to increase market share or can be used to enter into a new market. After the product is advertised in the market, it is pricing of the product which reflects the standards of the product in the market. For instance if a new product of already known brand is launched then it becomes little easy to make a place in consumer’s heart but if a new product of a new brand is launched it is all dependent on how much the company of that brand spend on advertising the product and how good they advertise to reach to the maximum consumer’s heart.

The pricing of a product should be that amount that could be affordable by number of people because it will create an opportunity for the company to be in a competitive environment.Thus, this technique requires knowledge of consumer’s behaviour that could be proved beneficial for both – the consumers and the company. Due to advancement of technology and new researches, the competition in the market has increased to a great extent and companies should be aware of their opponent’s existing & future products, name& fame in the market and the quality of their products, new advancements they are making with their products etc. And also due to increase in access of Internet, people are becoming more sensitive to pricing. They want best thing at best prices. Many models for the pricing strategies have been put forth and some of these are:

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