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Bus 2201-01 Principles Of Marketing Essay

539 Words3 Pages

Discussion Forum Unit 8
BUS 2201-01 Principles of Marketing - AY2023-T5
Discussion – In this week's topic, we'll consider what we have learned thus far and answer the questions below. Chapter Fifteen on Price.

Which pricing objectives are profit-oriented, and which objectives are sales-oriented?
Profit-oriented pricing objectives seek to optimize profit margins or achieve a specific rate of return on investment. Profit-oriented pricing goals include maximizing short-term or long-term profit and achieving a target rate of return (McCormick, n.d).
Sales-oriented pricing targets are those that seek to raise a product's or service's sales volume or market share. Penetration of new markets, increased sales volume, taking market share from competitors, and stimulating interest in new products are all examples of sales-oriented pricing objectives (McCormick, n.d; …show more content…

(2019, September 26). 6 pricing objectives to maximize growth | ProfitWell. Profitwell. https://www.profitwell.com/recur/all/pricing-objectives

Fuchs, J. (2022, August 15). Pricing objectives: What they Are and Why You Need One. Blog.Hubspot. https://blog.hubspot.com/sales/pricing-objectives

McCormick, M. (n.d.). Why Pricing Objectives are Fundamental to Business Success. https://blog.blackcurve.com/why-pricing-objectives-are-fundamental

Njogu, T. (2021). Difference between penetration and skimming pricing strategy | Difference between. Difference Between. http://www.differencebetween.net/business/difference-between-penetration-and-skimming-pricing-strategy/

S, S. (2020, March 31). Factors influencing pricing. Art of Marketing - Learn the Art of Marketing From the Experts! https://www.artofmarketing.org/pricing/factors-influencing-pricing/13831

S, S. (2017, October 11). Difference Between Penetration Pricing and Skimming Pricing (with Comparison Chart) - Key Differences. Key Differences.

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