Pricing decisions integrate the firm’s costs with marketing strategy, business conditions, competition, demand, product variables, channels of distribution, and general resources. Pricing can affect the success or failure of a business. This places a very heavy burden on the price maker.
What factors do you think should be considered in price setting? Does competition affect pricing? How?
Discussion Question #2:
Organizations today must build and manage a continuously evolving and increasingly complex channel system and value network.
Describe the marketing channels of an organization you know well. To what degree are the channels effective? What current do you adjustments suggest? What modifications do you predict in the next 5 years? Why?