Meaning of price, Marketing Management

Meaning of price:

Price is the marketing mix element that product revenue, the other producer costs. Price is also one of the most flexible elements: it can be changed quickly, unlike product features and channel commitments. Price may be defined as the exchange of the goods or services in item of money. Without price there is no marketing, in the society. If money is not there, exchange of the goods can be undertaken but without price there is no exchange value of a product or the service agreed upon in a market transaction. Is the key factor, which affects the sales of operation? To a manufacturer price represents quality of the money for (or goods and services in a better trade) received by the firm or seller. To a customer's it represents value of a product and hence his perception value of the product. 

Posted Date: 9/19/2012 6:47:40 AM | Location : United States







Related Discussions:- Meaning of price, Assignment Help, Ask Question on Meaning of price, Get Answer, Expert's Help, Meaning of price Discussions

Write discussion on Meaning of price
Your posts are moderated
Related Questions
1. Consider an economy in which George and Harriet consume only ale and bread. Georgeís utility function is UG = aG(bG 1) where aG and bG are his consumption of ale and bread

What is the role of following in personal selling process? Follow up: Sales executives must follow up the order produced. It will assist the company to know the customer

Marketing mix communication Organisations now accept that tools of the promotional mix are not the only way in which brands communicate. All parts of the marketing mix communic

what is down market stretch and give some example?

1. General Admin costs cover the general running of the organisation. It includes rates, electricity and maintenance recovered from Council - see Income. 2. The high cost of a

what is test marketing?explain the various approaches that are followed by FMCG companies in test marketing?

is product a yype of service

Define the Exchange process Exchange process is developed and managed by researching consumer/ stakeholder needs, identifying, selecting and targeting particular groups of stak

Question: a) Under what conditions might a marketing firm select to use the following distribution strategies? Intensive distribution, Exclusive distribution, and Selec