Marketing Strategy from the Masters (Collection)
by Philip Kotler, Nancy Lee, Paul W. Farris, Neil T. Bendle, Phillip E. Pfeifer, David J. Reibstein, Larry Light, Joan Kiddon
34. Pricing Strategy and Objectives
The way in which a company positions and prices its products and services may be the most visible evidence of how a company values its brand. A company that seeks product or service leadership is less concerned with pricing than it is with innovation.
A company’s pricing strategy is an important and complicated decision. To make matters worse, there are dozens of different pricing methods companies use. I want to simplify the process as much as possible and present you with a process that will be used to help you develop a pricing strategy aligned with your business strategy. The first goal is to understand your objectives. There are four main pricing objectives that work for most businesses:
• Profit Maximization: ...
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