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

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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.

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