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Internal and external factors affecting pricing decisions

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  • Essay length: 3586 words
  • Submitted: 19/06/2006
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University Degree Marketing

The first 200 words of this essay...

LEVEL 2 MANAGEMENT

ASSIGNMENT

ESSAY TITLE: Internal and external factors affecting pricing decisions

Primary SUBJECT AREA: Marketing

NAME: Evgueni Nod

MATRICULATION NO: 0007927

For Office Use only:

Submission Date:

Misc:

INTRODUCTION 3

ACKNOWLEDGMENTS 3

INTERNAL FACTORS AFFECTING PRICING DECISIONS 4

Company's objectives 4

Marketing-mix strategy 5

Costs 5

Organisational consideration 5

EXTERNAL FACTORS AFFECTING PRICING DECISIONS 7

Type of market 7

Price-demand relationship 8

Competitors' costs, prices and offers 8

Other external factors 9

SUMMARY 10

BIBLIOGRAPHY 11

APPENDIX 1 12

Introduction

"There are two fools in every market. One charges too much; the other charges too little."

Russian proverb

"Pricing is the moment of truth - all of marketing comes to focus in the pricing decisions"1

These words show the significance of the concept of price and how important it is to set prices of company's products carefully in order not to be a 'fool' in the market. Price is the only marketing-mix variable that earns revenue. All the

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