How can price be used as a strategic variable to achieve specific financial goals? Under what...
How can price be used as a strategic variable to achieve specific financial goals? Under what conditions should skimming or penetration pricing be adapted as strategy?
Subject - Supply Chain management
Homework Answers
Price can be used for achievement of strategic financial goals as price helps firms achieve revenue maximisation. Choosing right pricing strategy helps firms garner higher market share and helps build customer trust and loyalty. Moreover it creates customer awareness by keeping pricing intact wiyhout much tampering. This leads to increasing customer market share snd thus revenues expand and keeps profitability ratios higher.
Penetration prucing should be adopted when jew players eneter saturated markets by keeping lowest rock bottom prices so customers buy them creasting pull demand and thus penetration of markets from rural to urban is possible and helps firm build sizable market share.
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