Section 5
Pricing Objectives
By Boundless
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Most executives pursue strategies that align pricing with revenue generation, enabling their organizations to survive and thrive long term.
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If the sole objective of a firm is to maximize profit, there are various profit maximizing pricing methods that can be used.
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Marketers should understand the position of their company and the returns expected when making adjustments in prices.
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Increasing market share is one of the most important objectives of business and pricing may offer a mechanism to increase share.
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Cash flow is extremely important to firms as this is how they buy goods, pay employees, fund new investments, and pay dividends.
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A status quo pricing objective is one that maintains current price levels or meets the price levels of the competition.
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Quality refers to the ability of a product or service to consistently meet or exceed customer requirements or expectations.