Pricing Strategy in the Marketing Mix

The video explores the pricing element of the marketing mix, detailing how businesses set pricing strategies based on factors like production costs, product quality, demand, supply, and brand image. It discusses high and low pricing strategies, market impacts, and the influence of e-commerce on pricing. The video also covers how pricing strategies evolve through the product lifecycle stages.

What is the significance of setting the right price for a product?

How do production costs influence pricing decisions?

What role does the quality of a product play in its pricing strategy?

Explain how demand affects the pricing of a product.

What is the impact of supply on pricing strategies?

How does brand image influence the pricing of products?

Describe the difference between high pricing and low pricing strategies.

What factors should businesses consider when deciding on a pricing strategy?

How has e-commerce changed the way businesses set prices?

What pricing strategy is typically used during the launch phase of a product?