Pricing objective

Pricing objective,

Definition of Pricing objective:

  1. A goal that guides a business in setting the cost of a product or service to potential consumers. A pricing objective underlies the pricing process for a product, and it should reflect a companys marketing, financial, strategic and product goals, as well as consumer price expectations and the levels of available stock and production resources. Some examples of pricing objectives include maximizing short run profits, increasing sales volume, matching competitors prices, encouraging smaller competitors to change industries, or meeting target rates of return. Each pricing objective requires a different price-setting strategy in order to successfully achieve business goals.

Meaning of Pricing objective & Pricing objective Definition