Chapter 1
Strategic Pricing
Coordinating the Drivers of Profitability
Marketing consists of four key elements: the product, its promotion, its placement or distribution, and its price. The first three elements—product, promotion, and placement—comprise a firm’s effort to create value in the marketplace. The last element—pricing—differs essentially from the other three: it represents the firm’s attempt to capture some of the value in the profit it earns. If effective product development, promotion, and placement sow the seeds of business success, effective pricing is the harvest. Although a creative pricing strategy can rarely compensate for poor execution of the first three elements, ineffective pricing can surely ...
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