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How should a company set prices initially for products or services

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Sameer Mathur
Sameer Mathur

How should a company set prices initially for products or services?

Marketing
1 of 22
SETTING THE PRICE -KARTIK BHARGAVA
STEP 1: SELECTING THE PRICING OBJECTIVE
Survival
Maximum Current Profit
Maximum Market Share
Maximum Market Skimmimg
Product-Quality Leadership
STEP 2 : DETERMINING DEMAND
Price Sensitivity
Estimating Demand Curves
Price Elasticity Of Demand
STEP 3 : ESTIMATING COSTS
Types of costs and levels of production
Accumulated production
Target Costing
STEP 4 : ANALYZING COMPETITOR’S COSTS, PRICES AND OFFERS
STEP 5 : SELECTING A PRICING METHOD
STEP 6 : SELECTING THE FINAL PRICE
Impact of the other marketing activities
Company pricing policies
Gain and Risk sharing pricing
Impact of price on other Parties

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How should a company set prices initially for products or services