Page 24 - MARKETING MIX
P. 24
PRICING
External Factors :
Competitor's price and offer
Most consumers compare the price of a product with the
competitors’ price, and will choose the product that offers
the best value. So, it is important for a firm to know about
the price and quality that is offered by the competitors. It
External Factors :Other
can be made as the basis for smart and appropriate pricing
decisions for all products.
Factors
Other external factors that influence pricing decision are
economy, social, technology, the effect of price on other
marketers and government.
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