Pricing for profitability
You may think that deciding the selling price for products is a function of the marketing department, and indeed the prime responsibility does lie with them. However, the marketing department does not make the decision in isolation.
The pricing decision is … a complex mixture of strategic thought, operational planning, marketing and economic decision making by the supplier of the goods or service.
Broadbent and Cullen
(2003)
One of the basic questions to be asked about any product is, ‘Are we making a profit on this product line?’ Whilst companies have loss-leaders to attract custom, this can only ever be in exceptional ...
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