What are the different internal factors that affect a firm's pricing decisions?
What will be an ideal response?
Beyond customer value perceptions, costs, and competitor strategies, the company must consider several additional internal and external factors. Internal factors affecting pricing include the company's overall marketing strategy, objectives, and marketing mix, as well as other organizational considerations. Price is only one element of the company's broader marketing strategy. If the company has selected its target market and positioning carefully, then its marketing mix strategy, including price, will be fairly straightforward. Some companies position their products on price and then tailor other marketing mix decisions to the prices they want to charge. Other companies deemphasize price and use other marketing mix tools to create nonprice positions.
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A retailer that wanted to target prospective grooms between the ages of 21 and 40 who are within six months of their marriage is using ________ segmentation to define its target market
A) lifestyle B) behavioral C) socioeconomic D) demographic E) ethnicity
Sue and Rob work together on the same team, and Sue observes that Rob typically frowns when she offers a work-related suggestion. Sue would be metacommunicating about this problem when she
A) says to Rob, "I notice that you seem displeased when I offer a suggestion." B) sends an e-mail to the team leader describing the frowning problem. C) retaliates by frowning when Rob makes a suggestion. D) places a decal with a smiley face on the partition to Rob's cubicle.