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  • 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