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Market pricing is one of the most important aspects of marketing mix that decides the success of products. It would be dangerous for an organization to set the price of the products too much high without having a proper brand value. Determination of pricing of a product quite challenging and it depends on various factors such as production cost, quality of the product, market location, customer group, competition and market condition. The experts of our pricing strategy assignment writing services are always engaged in market research and thus, they are well aware of market dynamic. Hence, our experts are quite able to make your pricing strategy assignments as per the accurate market value. The rationality of product pricing depends on the optimization of net revenue that is generated from the sales of products. It is also affected by prevalent market condition and force. The students need deep knowledge regarding market concept for setting price of products. Determination of accurate production cost needs lots of calculation. Pricing strategy assignment help assists you in calculating the proper cost of the products mentioned in your assignments.
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Choosing an appropriate pricing strategy is the most significant fundamentals of marketing process. If any company set the price of product extremely low, then it would not be able to earn profit. On the other hand, if any company set the price of the products extremely high without a strong brand value then no customers will be willing to buy the products. Different pricing strategies to be followed in pricing strategy assignment are as follows:
This pricing strategy is adopted by organizations to grab the market at its initial stage. In this pricing strategy, an organization usually keeps the price of the product low so that it can acquire huge amount of customers. Organizations increase the price level of the products when huge customers absorb it.
Competitive pricing is all about setting the price of the service and products based on charge of competition. This pricing strategy is mostly used by the organizations selling similar products. In this pricing strategy, an organization first analyzes the cost of the competitor companies and set the prices of their products.
Cost Based Pricing is a pricing method in which sum of total cost is added to the expenses of the product for setting the price of the products. All the costs related to the product are combined for setting the price of the product. The pricing strategy incorporates all the costs incurred in terms of production, operation and transportation of products to set the appropriate the price for the products. Furthermore, organizations set the profit margin for the products on the top of total cost.
Product line pricing indicates setting and reviewing the price of multiple products, which an organization offers in coordination with one another. This pricing strategy is aimed at maximizing the sales of different products through making it more complementary rather than complementary.
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