Price Strategy for Business Market
Answer 2: Price Strategy for Business Market
Considerations for pricing strategy include strategic versus tactical pricing, strategic use of tools and applications, profit maximizing prices, pricing psychology, costing and financial analysis, managing price competition, and organizational transformation. The decision of strategic versus tactical pricing includes an analysis of how pricing to cover costs, achieving sales and competitive advantage influence profit, what objectives could lead to competitive advantage and profitability, and the role of pricing in overall marketing strategy. Setting prices for profit maximization include determining the role of value, segmented pricing, acc...