Pricing is an essential element of the marketing strategy. It will not need significant investments or resources, and is possibly the most accessible lever to handle profitability. Even slight changes in pricing can have a significant impact on both earnings and profitability. With this as a backdrop, we make a case for precision in pricing to improve profitability.
They assign varying degrees of emphasis seeing cost upon their purchase choices, since consumers change in their own tastes, motivations, and propensity to spend. We declare that pricing is a creative exercise in math and behavioral economics, and companies should remain focused on profits. We also provide a sequence of guidelines for creating powerful base costs, and then changing them to enhance profitability. Finally, leakage will be reduced by tracking costs at the trade level in gains and further add to the bottom line.
PUBLICATION DATE: November 15, 2011 PRODUCT #: BH456-HCB-ENG
The Price is Right Guidelines for Pricing to Enhance Profitability Case Study Solution
This is just an excerpt. This case is about STRATEGY & EXECUTION
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OPET: Precision Marketing in Uncertain Times
