Pricing Research Paper Example | Topics and Well Written Essays - 1500 words

Pricing - Research Paper pillowcaseThis research will begin with the statement that toll is the monetary value associated with the crossing and it is the driver of bon ton revenues. Charles W. Lamb, Joseph F. Hair and Carl McDaniel believe that price is something which is given up in an exchange to acquire a earnest or service. Price of a product or service is very consequential to both trafficker and customer. Usually, customers see theprice as the cost of product or service, whereas seller considers as the revenue. The logic is sincere for the sellers revenue increases with the increase in price or volume of sales. In reality, price remains dim as all the details related to it be never spelled out. Theoretically, theprice is one of the most important Ps among the four Ps of product marketing. The inclusion of theprice in the marketing mix (four Ps) signifies the grandness of it in the world of marketing. The marketing process is incomplete without proper adoption and imp lementation of pricing strategy. Prices are established in order to cover the costs and make some bread which is the ultimate intent of any company. In other words, it can be said that price is very important because it brings the profit which is crucial for the survival of the company. It is often found that customers expectation regarding the quality of the product varies with the price. It is assumed that quality of the product increases with the increase in price. Marketers need to consider such assumption and give proper importance to the price aspect accordingly.