Everything you need to know about the methods and techniques adopted for pricing your products! Learn about: A. Methods of Product Pricing 1. Cost-Based Methods 2. Break-Even Concept B. Product Pricing Methods 1. Demand and Perceived Value-Oriented Pricing 2. Competition-Oriented Pricing. Also learn about the product pricing methods, concept, approaches and strategies. How do marketers of products and services arrive [...]
Theory # 1. No Profit, No Loss Principle: For a long time, the 'no profit no loss' principle was regarded as the ideal of price-policy of public undertakings. Since public enterprises are operated in public interest, they should follow the policy different from the private enterprises which are actuated by motivation of profit. The public enterprises should not charge prices [...]
After reading this article you will learn about:- 1. Meaning of Pricing 2. Factors Influencing Pricing 3. Objectives 4. Economic Theories 5. Strategies 6. Methods. Meaning of Pricing: One basic element of the marketing mix is pricing. A "Price" for a product or service refers to the amount of money needed to acquire that product or service. In a competitive [...]