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Internal and external factors affecting pricing decisions
- Essay length: 3586 words
- Submitted: 19/06/2006
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LEVEL 2 MANAGEMENT
ESSAY TITLE: Internal and external factors affecting pricing decisions
Primary SUBJECT AREA: Marketing
NAME: Evgueni Nod
MATRICULATION NO: 0007927
For Office Use only:
INTERNAL FACTORS AFFECTING PRICING DECISIONS 4
Company's objectives 4
Marketing-mix strategy 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
APPENDIX 1 12
"There are two fools in every market. One charges too much; the other charges too little."
"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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