Principles of Marketing, Student Value Edition Plus MyLab Marketing with Pearson eText -- Access Card Package (17th Edition)
Principles of Marketing, Student Value Edition Plus MyLab Marketing with Pearson eText -- Access Card Package (17th Edition)
17th Edition
ISBN: 9780134642321
Author: Philip T. Kotler, Gary Armstrong
Publisher: PEARSON
bartleby

Concept explainers

Question
Book Icon
Chapter 10, Problem 10.1DQ
Summary Introduction

To discuss: The reasons on pricing strategy critical to a company’s success.

A pricing strategy considers portions, capacity to pay, economic situations, contender activities, trade margins and input costs, among others. It is focused at the characterized customers and against contenders.

Expert Solution & Answer
Check Mark

Explanation of Solution

The reasons on pricing strategy precarious to a company’s success are as follows:

Price is the main component in the marketing mix that produces income; every single other component speak to costs. Cost is likewise a standout amongst the most adaptable marketing mix components. Distinct product highlights and channel responsibilities, prices can be changed rapidly.

In the meantime, pricing is the main issue confronting many marketing executives and numerous organizations do not deal with pricing effectively. In any case, smart managers treat pricing as an important strategic tool for making and catching customer value.

Prices directly affect a company's main concern. A little rate improvement in cost can create an enormous rate increment in productivity. Progressively significant, as a major aspect of an organization's overall value proposition, cost assumes a key job in making customer value and building consumer relationships.

In this way, rather than shying far from pricing, clever advertisers are holding onto it as a significant competitive asset.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!
Students have asked these similar questions
Home Depot History of LAck of Ethical Decision Making and Social Responsibility. Actions that receive public backlash and failed to deliver to their community.
SWOT analysis for Home depot
Home depot Mission Statement and Key Leaders
Knowledge Booster
Background pattern image
Marketing
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, marketing and related others by exploring similar questions and additional content below.
Similar questions
SEE MORE QUESTIONS
Recommended textbooks for you
Text book image
Principles Of Marketing
Marketing
ISBN:9780134492513
Author:Kotler, Philip, Armstrong, Gary (gary M.)
Publisher:Pearson Higher Education,
Text book image
Marketing
Marketing
ISBN:9781259924040
Author:Roger A. Kerin, Steven W. Hartley
Publisher:McGraw-Hill Education
Text book image
Foundations of Business (MindTap Course List)
Marketing
ISBN:9781337386920
Author:William M. Pride, Robert J. Hughes, Jack R. Kapoor
Publisher:Cengage Learning
Text book image
Marketing: An Introduction (13th Edition)
Marketing
ISBN:9780134149530
Author:Gary Armstrong, Philip Kotler
Publisher:PEARSON
Text book image
MKTG 12:STUDENT ED.-TEXT
Marketing
ISBN:9781337407595
Author:Lamb
Publisher:Cengage
Text book image
Contemporary Marketing
Marketing
ISBN:9780357033777
Author:Louis E. Boone, David L. Kurtz
Publisher:Cengage Learning