Essay On Price In Marketing

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Recommended: Principles of marketing pricing strategy

Price is a factor that is playing neither an important role in affecting the distribution of newly product nor services in the market. Hence, setting a price for a new product in the market is difficult (Foxall, 1984).
Price is one of the element in marketing mix, which it is very plays a very heavy role because marketers uses price as communication medium with customers where the message is being clearly perceived by customer as what it meant to the marketers (Dickson and Sawyer, 1990; Monroe and Lee, 1999; Vanhuele and Dreze, 2002). A product price is one of the main decision methods for both customer and also retailers as now the market is very competitive, price has made its position and role in differentiate in designing marketing and business strategies.
Price resulted to be the main point for customer to judge what is offered in the market (Monroe, 2003; Oliver, 1997). Price is also a main factor in transaction relationship where it is one of the medium used by marketers to counter the market, either in attracting or in retaining customer or as a element in competing ...

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