Discuss the various factors that affect the Pricing decisions in a firm. Explain the three cost oriented pricing approaches that a firm can use in pricing their products/services.

                                                                                                                                                       

MBA

Marketing Management

ASSIGNMENT

 

Course Code: MMPC-006

Assignment Code: MMPC-006/TMA/JULY/2022 

Coverage : All Blocks

3.(a) Discuss the various factors that affect the Pricing decisions in a firm. Explain the three cost oriented pricing approaches that a firm can use in pricing their products/services.

Pricing decisions are crucial for any business as they directly affect the revenue, market share, and profitability of the firm. The pricing decisions of a firm are influenced by various internal and external factors. 

The following are the factors that affect pricing decisions: Costs: The cost of production, distribution, and promotion of a product/service is one of the key factors that affect pricing decisions. The firm needs to determine the appropriate pricing level that ensures that the costs are covered and a profit margin is maintained.

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