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Developing Pricing Strategies and Programs - Coggle Diagram
Developing Pricing Strategies and Programs
Understanding Pricing
not always a number, comes in many forms
price environment constantly changes
consumer psychology can be used to determine optimal prices
Price Setting
set by boss for small companies, division managers in larger companies
selecting price objective
determining demand
estimating costs
analyzing competitor's costs
selecting a pricing method
selecting final price
Price Changes
geographical pricing
discounts
promos
Response to Competitors
enhance product
reduce price