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Definition Of Pricing By The Free Dictionary. Steel company profitability has improved dramatically over the past few years, and perhaps the most significant reason is because of the dramatic increase of hot-rolled steel prices, which is the industry benchmark for pricing.Hot-rolled steel prices have moderated slightly in 2005 to around $600/ton from the highs reached in September 2004 of $756/ton.
Wikipedia. Pricing is the process whereby a business sets the price at which it will sell its products and services, and may be part of the business's marketing plan.In setting prices, the business will take into account the price at which it could acquire the goods, the manufacturing cost, the market place, competition, market condition, brand, and quality of product.
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What Is Pricing? Definition And Meaning. Method adopted by a firm to set its selling price.It usually depends on the firm's average costs, and on the customer's perceived value of the product in comparison to his or her perceived value of the competing products. Different pricing methods place varying degree of emphasis on selection, estimation, and evaluation of costs, comparative analysis, and market situation.
Pricing Strategies. Lesson; Exercise; Answer; In terms of the marketing mix some would say that pricing is the least attractive element. Marketing companies should really focus on generating as high a margin as possible. The argument is that the marketer should change product, place or promotion in some way before resorting to pricing reductions. However price is a versatile element of the mix as we will see.
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The 5 Most Common Pricing Strategies. Value-based pricing: Best for differentiated businesses. Dolansky says entrepreneurs often used cost-based pricing because it’s easier. They may also copy the prices of their competitors, which, while not ideal, is a slightly better strategy.