PRICING, PROMOTION AND DISTRIBUTION
PRICING DECISIONS
Customer price is the monetary cost paid by the customer to the seller to procure goods and services. It is also known as consumer price or buyer price. It is the only revenue-generating ‘P’ of the marketing mix. Other P’s - product, place and promotion result in cash outflows.
Pricing is closely associated with the ‘value’ offered in the product, but both are different. Different segments of customers may be paying the same price for the same product but the value can be different for each of them.
In traditional barter trading, there was an exchange of products which was through an exchange of commodities. There might not have been any explicit pricing of the product but certain market benchmarks ...
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