The following points highlight four main pricing objectives of a firm. The objectives are:- 1. Target Return on Investment 2. Long-Term Stability of Product Prices 3. Market Share Maximisation and Stabilization 4. Meeting Competition. Objective # 1. Target Return on Investment: Earning a satisfactory rate of return on capital employed on a long-term basis is the most common pricing objective [...]
List of top seven materials used for packaging of products:- 1. Paper 2. Plastic 3. Nylon 4. Metal Foil 5. Glass-Wares 6. Metal Containers 7. Wood Containers. 1. Paper: Mainly two main types of papers are used. These are: (i) Coarse papers and (ii) Fine papers. Nearly all the papers used for packaging fall into the coarse paper classification. Fine papers [...]
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 [...]