Organizational factors and goals of the business The goals of the business serve as a basis for the development of pricing strategy. Generally, the overall pricing strategy is decided by…
Costs and profits are two dominant factors having a direct impact on selling price. Several cost reduction strategies are usually applied to minimize the costs. However, to maximize profit, a…
Benefits that create value for customers can be divided into two categories, e.g., core benefits and add-on benefits. The core benefit is the fundamental need that the customer satisfies when…