The Pricing of the company consists of several interrelated stages: the collection and analysis of information about the market, the formulation and justification of objectives of pricing policy for a certain period, the choice of methods of its implementation, setting the level of prices and the development of a system of discounts and allowances to them, adjustment of price policy depending on market conditions.
Pricing policy is a mechanism to take certain decisions regarding the conduct of the enterprise market to achieve the main goals of economic activity.
There are three main goals that companies seek to achieve by implementing the pricing policy: ensure sales, market retention and profit maximization. The choice of target determines the essence of which will be characterized by a pricing strategy of the enterprise for a certain period.
The Main primary objective of enterprises, sensing competition in the market is to ensure the marketing of products. This is especially important in conditions when there are more the products similar to those offered by other manufacturers. The choice of this target is due to the fact that the demand of the consumer in conditions of abundance of goods is price elastic. Or the goal may be due to the desire of the company and to maximize the sales and increase aggregate profits by reducing the revenue from each sold item. If the company is ready to lower the prices, it will promote sales and capture a broader niche market.
If the company seeks to maximize profits, then it must maximize profits current. This will be done after assessment of demand and costs on the basis of which you can choose the price that can fully reimburse the costs.
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To hold the market with the help of a price policy it is necessary to maintain the status quo in the market, which requires the adoption of measures to reduce competitive fight or prevent decline of sales.
The Price policy of the enterprise is a complex phenomenon, it is affected by many different factors. Therefore, the choice of common trends in this policy, the main approaches to the development of prices, especially accompanied by a sale of service, and other areas necessary to substantiate the data obtained in the data analysis, detailed market research.
Price and pricing policy are one of the most important components of the marketing business. Prices directly depend on the other sides of the organization, they are largely determined by business results.
The Meaning of price policy is to establish for the products of such prices in order to acquire more market share and to achieve the planned level of profits for the solution of strategic tasks of development.
The Price policy of the enterprise connects all particular solutions (the breakdown of prices within the product range, extension of prices, the prices of new products, linkage of prices with competitors, discounts, etc.) to integrated (unified) system.
Each enterprise to the problems of pricing suitable depending on the characteristics of their own economic realities. A great influence on the decision of these questions have a sales force, managers of economic and accounting services.
To set the prices of products, the company relies on marketing research, but also considers the degree of regulation, the dynamics of demand, the impact of competition, the needs of wholesale buyers and other factors. When this is taken into account the economic criteria of internal and external character.
The Internal criteria, there may be specific characteristics of products, production process, market tactics, mobility, production, advertising, service sales, etc.
The External criteria can be political instability, lack of resources, the dynamics of inflation, the nature of consumer demand, etc.
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