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Why is the marketing strategy so important to the pricing decision? What are some examples in which strategy and the price appear to be inconsistent?

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Why is the marketing strategy so important to the pricing decision is determined. What are some examples in which strategy and the price appear to be inconsistent is given.

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Pricing is one of the four P's of the marketing mix and is an important element of the overall marketing process. All the other important elements, such as product, promotion and place(distribution), are affected by the pricing strategy and vice versa, ie, pricing is affected by the strategies followed for these other elements.

Therefore, the marketing strategy followed by the organization affects the choice of pricing strategy to be followed by the organization. In order to make the overall strategy successful, it is extremely important that all the elements of the marketing function should follow a consistent strategy and should not ...

Solution provided by:
Sandeep Bardia, MBA
Education
  • BCom, SGTB Khalsa College, University of Delhi
  • MBA, Rochester Institute of Technology
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