10 Reviewing and Extending the Concepts
Objectives Review and Key Terms
Objectives Review
Companies today face a fierce and fast-changing pricing environment. Firms successful at creating customer value with the other marketing mix activities must still capture some of this value in the prices they earn. This chapter examines the importance of pricing, general pricing strategies, and the internal and external considerations that affect pricing decisions.
Objective 10-1 Answer the question “What is a price?” and discuss the importance of pricing in today’s fast-changing environment. (pp 284–285)
Price can be defined narrowly as the amount of money charged for a product or service. Or it can be defined more broadly as the sum of the values that ...
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