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Marketing and Branding: The Indian Scenario by Ramesh Kumar S.

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3

Dimensions of Pricing

The Theme of Pricing

The practice of pricing that was once the science of economics has turned out to be an art with an aura of scientific touch. Dynamic competitive pressures, shifting lifestyles of consumers and proliferation of brands have opened up several challenges to marketers. The theme of pricing deals with three broad, topical and practice-oriented issues in the area of pricing and its link with the strategy of marketing. The concept of value is one vital issue which is of interest to marketers. The concept of value, managing value and value applied to products and services are some of the important dimensions covered in this chapter. The behavioural aspect of pricing that delves into the influence of consumers ...

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