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Contemporary Marketing

18th Edition
Louis E. Boone + 1 other
ISBN: 9780357033777

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BuyFindarrow_forward

Contemporary Marketing

18th Edition
Louis E. Boone + 1 other
ISBN: 9780357033777
Textbook Problem

Summarize the three pricing objectives.

Summary Introduction

To discuss: The 3 pricing objectives.

The amount or value of funds that are required to buy a product is termed as price.

Explanation

The 3 foundations of pricing strategy are as follows:

  • Sales or volume objectives
  • Competition
  • Prestige

Sales or volume objectives: The objective is to achieve a specific sales volume or market shares. Its main objective is to maximize the sales.

Competition: Competition is a big threat to the marketers than the cost. Every company should use some different tactics to survive in the market...

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