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Pricing: Understanding and Capturing Customer Value, Cost Based…

- - - - Is the only element in the marketing mix that produces revenue
        
        Internal factors affecting pricing include the company’s overall marketing strategy, objectives, and marketing mix, as well as other organizational considerations. External factors include the nature of the market and demand and other environmental factors.
- - - - The company designs what it considers to be a good product, adds up the costs of making
        the product, and sets a price that covers costs plus a target profit