Explain the importance of pricing in the marketing mix

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Explain The Importance of Pricing in the Marketing Mix

Price is an important element of the marketing mix. Describe the importance of pricing in the marketing mix. Describe three different pricing strategies and provide a real-life example of each in action. Suggest another strategy that would have worked better. What are the steps that need to be followed for developing the pricing of a new product? Can these steps be interchanged? Why?

Reference no: EM1335172

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