Setting price
What is the best way to set the price of your product or service? it all depends on what value you want the product to have. There are a some steps to be followed, in order to reach the strategic pricing objective. Strategic pricing process Set strategic pricing objective What should be the objective? You could use the positioning process below to understand competitor-oriented pricing and customer-oriented pricing. Cost-oriented pricing takes in to consideration the manufacturing, distribution, promotion and service costs and adds a margin. Estimate demand and price elasticity…read more