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  • Marketing Management

    MM

    Welcome to Marketing Management – Module BM4403.

     

    This module, BM4403 presents the knowledge and understanding about the importance of marketing management in companies.  It imparts the concepts and principles involved in marketing of the company’s products and services and enabling the company to gain competitive position in the market.

    The marketing function plays an important role in the sense that it is in contact with the external environment and acquires the necessary information for the development and improvement of the company’s operations and processes in order to attain the stability with the environment.  It is the only function that brings in the financial returns to the company for the continuous operations of the other functions to provide the support to the marketing function.

    I truly hope that, like your predecessors, you will enjoy the module and find that our ‘discussions’ enhance your understanding of the marketing management process.


◄TOPIC 7 - SETTING PRODUCT STRATEGYTOPIC 9 - DISTRIBUTION CHANNEL STRATEGY►

TOPIC 8: PRICING STRATEGY

  • TOPIC 8: PRICING STRATEGY

    INTRODUCTION

    In this lesson we will learn how to make effective pricing decision for a product. Since the price for a product brings revenue to the firm, having the right price will determine the profitability and the long-term survival of the firm. We will first look at the role of price in marketing followed by the steps for effective pricing of a product. We will also discuss strategy to be taken by a firm when pricing a new product, existing products and product lines.


    LEARNING OUTCOMES

    After studying this lesson, you should be able to:

    1.       Explain the background of pricing strategy

    2.       Discuss the steps involved in pricing a product

    3.       Explain the strategies in managing price setting


◄TOPIC 7 - SETTING PRODUCT STRATEGYTOPIC 9 - DISTRIBUTION CHANNEL STRATEGY►