The Role of Price in Marketing

Marketing’s View of Price We often come across the term price; it’s a common term in everyday life. In general terms, price can be considered as a monetary amount that is charged in order to get something desired from the market (that is, to obtain a product). If consumers perceive value (enough benefits or a … Read more…

Internal factors influencing price

What are the internal factors to consider when making price decisions? The selection of a price for a product depends upon both internal factors and external factors. Internal factors relate to factors inside the organization itself, whereas external factors consider competition and consumer behavior in the marketplace. Internal factors that influence price The main internal … Read more…

Goals of Coupons and Rebates

  Sales promotions are short-term incentives designed to drive sales. They are part of the promotional mix within the marketing 4P’s. Because they often carry pricing incentives, such as discounts, they also have a crossover with the pricing mix in the 4P’s as well. Two common promotional vehicles used in a sales promotion program are … Read more…