Principles of marketing/PMKT101/Optimizing the Marketing Mix/Video signpost

Importance of pricing

Watch this video to gain an understanding of the importance of pricing in the marketing process and in business success. The presenter covers the following:

• where pricing fits in the marketing scheme;
• how pricing is closely connected to positioning, differentiation, value proposition and branding;
• pricing and profitability;
• three main pricing methods:
  • production / development cost + markup,
  • competition and,
  • the perceived/actual value of the product or service;
• price execution or realization;
• go-to-market pricing strategy.

Marketing: Pricing by Brian K. McCarthy (11:01)

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