Page 21 - MARKETING MIX

PRICING

Factors that influence price

decision

Internal Factors :

Firm's Marketing Objective

When a firm has clear marketing objectives, it will go through the

pricing process smoothly. For example, General Motors has set its

marketing objective, to produce sports cars which will compete with

sports cars from Europe. Its main target market is focused on the

high income group. There is a possibility of pricing the sports car

higher because of the targeted market.

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