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Understanding Pricing Strategies and Considerations in Product Development

This chapter provides a comprehensive overview of key pricing concepts crucial for effective product development and positioning. It defines important terms such as price, prestige pricing, odd-even pricing, target pricing, markup, cost-plus pricing, and more. The chapter outlines five critical pricing considerations and strategies for businesses, along with three main pricing objectives. Additionally, it discusses various price adjustments and regulations that influence pricing decisions in the market. This essential guide is perfect for marketers, product managers, and business strategists.

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Understanding Pricing Strategies and Considerations in Product Development

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  1. Product Development and Positioning Chapter 5.2 Page 108 - 114 • Define the following terms • Price • Prestige pricing • Odd-even pricing • Target pricing • Markup • Cost-plus pricing • Non-price competition • Market share • Pricing lining • Bundle pricing • Loss-leader pricing • Yield-management pricing • Price fixing • Outline each of the five pricing considerations and strategies • Explain the three pricing objectives and strategies. • What are considered price adjustments and regulations?

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