Lecture fundamentals of marketing - Lecture 16: Pricing: Understanding and capturing customer Value

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Lecture fundamentals of marketing - Lecture 16: Pricing: Understanding and capturing customer Value

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We now look at the second major marketing mix tool pricing. If effective product development, promotion, and distribution sow the seeds of business success, effective pricing is the harvest. Firms successful at creating customer value with the other marketing mix activities must still capture some of this value in the prices they earn. In this chapter, we discuss the importance of pricing, dig into three major pricing strategies, and look at internal and external considerations that affect pricing decisions.

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