Net NBA see how pricing strategy is one of the four major elements within the marketing mix. Pricing is a vital strategic issue, as it relates to product positioning and affects fundamental elements. These include product features, channel decisions and promotion. The following steps can help in determining the pricing of new products:
- Develop a clear marketing strategy
- Make marketing mix decisions
- Estimate the demand curve
- Calculate all costs
- Understand environmental factors
- Set pricing objectives
Read more at http://www.netmba.com/marketing/pricing/
See how Stratinis can endeavour to optimize and manage your prices through our pricing software