ALTERING PRICING STRATEGIES | PRICING STRATEGY | MARKETING
ALTERING PRICING STRATEGIES ADJUSTING TO MARKET DYNAMICS Strategies are the potential actions, policies and decisions from the people who are charged with governance of the organization. They are the means by which top-management decides its long-term objectives. It could be either geographical expansion of organization or acquiring a business unit; product development or discontinuing a product from production line. Above all, strategy which depicts the organizational vision and mission most, is the pricing strategy. Pricing strategy is the method use to set the best price of the product/service after computing direct and indirect costs associated with it. Organizations of any scale, set prices after considering production costs, administrative costs and selling costs; but they also have to consider some qualitative factors of market which involves consumers spending and consumption pattern, competitors’ pricing, after sales service and discounting policy. Pricing strategies, in o...