10
PricingUnderstanding and Capturing Customer Value
OBJECTIVES OUTLINE
- OBJECTIVE 10-1 Answer the question “What is price?” and discuss the importance of pricing in today’s fast-changing environment.
- OBJECTIVE 10-2 Define price, identify the major pricing strategies, and discuss the importance of understanding customer-value perceptions, company costs, and competitor strategies when setting prices.
- OBJECTIVE 10-3 Identify and discuss the other important external and internal factors affecting a firm’s pricing decisions.
CHAPTER PREVIEW
In this chapter, we look at the second major marketing mix tool—pricing. If effective product development, promotion, and distribution sow the seeds of business success, effective pricing is the harvest. Firms ...
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