When to make price decision and objectives of pricing

When to make price decision:

  • In case of new product
  • Increase or decrease of price of similar products by competitors
  • Change in market competition

OBJECTIVES OF PRICING:

  • To enter in to the market
  • To maintain a definite share in the market
  • To earn maximum profit
  • To earn return on capital invested
  • To be in Competition
  • To develop product line
  • To maintain price stability
  • To create potential customers
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