Pricing it's definition, meaning, importance and objectives.

1. PRICING, IT’S MEANING,
IMPORTANCE &
OBJECTIVES
BY MR. DHOKNE HARISH

2. DEFINITION :
• The value of money (or its equivalent) placed on a good or service.
• Usually expressed in monetary terms (an example of non-monetary
is "bartering.")
• The key to pricing is understanding the value that buyers place on a
product.

3. MEANING OF PRICING:
• Setting the monetary value of medications and treatments.
• It involves strategic decisions that impact profitability, market
positioning, and patient access.
• Regulatory compliance, market dynamics, and ethical
considerations shape pricing strategies.
• Effective pricing balances revenue generation with ensuring
affordability and access to essential healthcare solutions.

4. THE PURPOSE OF PRICING :
• Has to satisfy the consumers by carrying the right value to them.
• Price, fundamentally, is a measure of value i.e. It has to be true
reflector of value for the company as well as for the customers.

5. IMPORTANCE OF PRICING :
1. Cash discount: A price reduction to buyers who purchase in bulk quantity and are
prompt in payment.
2. Quantity discounts: A price reduction to buyers who buy large volumes.
3. Functional discount: A price reduction offered by the seller to trade channel
members who perform certain function such as; selling,storing and record
keeping.It is a discount by sellers to buyers.
4. Seasonal discount: A price discount to buyer who purchase merchandise or
services out of reasons.
5. Allowance: Promotionalmoney paid by manufacturers to retailer

6. PRICING OBJECTIVES :
1. Maximize Profit
2. Maximize sale
3. Meet Competition
4. Increase market share5.
5. To Satisfy Customers

7. THANK YOU!!