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How to Innovate in Marketing (Collection), 2/e by Tony Davila, Robert Shelton, Joan Kiddon, Larry Light, Michael Tasner, Monique Reece, Marc Epstein

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34. Pricing Strategy and Objectives

The way in which a company positions and prices its products and services may be the most visible evidence of how a company values its brand. A company that seeks product or service leadership is less concerned with pricing than it is with innovation.

A company’s pricing strategy is an important and complicated decision. To make matters worse, there are dozens of different pricing methods companies use. I want to simplify the process as much as possible and present you with a process that will be used to help you develop a pricing strategy aligned with your business strategy. The first goal is to understand your objectives. There are four main pricing objectives that work for most businesses:

Profit Maximization: ...

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