Most executives pursue strategies that align pricing with revenue generation, enabling their organizations to survive and thrive long term.
If the sole objective of a firm is to maximize profit, there are various profit maximizing pricing methods that can be used.
Marketers should understand the position of their company and the returns expected when making adjustments in prices.
Increasing market share is one of the most important objectives of business and pricing may offer a mechanism to increase share.
Cash flow is extremely important to firms as this is how they buy goods, pay employees, fund new investments, and pay dividends.
A status quo pricing objective is one that maintains current price levels or meets the price levels of the competition.
Quality refers to the ability of a product or service to consistently meet or exceed customer requirements or expectations.