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2. The Marketing Mix (Pricing Strategies). (2016, 03 26). Retrieved from Learn Marketing.net: http://www.learnmarketing.net/price.htm
3. 5 Reasons Pricing Strategy is Increasing in Importance . (2016, 03 27). Retrieved from Marketing 91:
Price is one of the four core elements of the marketing mix, and is often seen as one of the most difficult ones to manage. This is because the price a company charges for its products or services will have a major impact on the bottom line revenue and profits, but pricing is also an important strategic issue, and a vital part of positioning a product in a market segment. As such, companies will need to consider how their price will affect, and be affected by, the marketing strategy; the other elements in the marketing mix; and any environmental factors. At the same time, the company will need to understand how the price will affect demand; how the fixed and variable costs will behave over time; and the ultimate strategic objectives of the company, whether they are profit maximisation, revenue maximisation, growth maximisation or some other. Only then can a pricing method and structure truly be determined.