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Implementation of Pricing Strategy
Abstract
This chapter argues that the critical task for marketing firms during the market uncertainty, particularly while implementing the changes in the price policy, is to find a new set of organizational practices that will become the basis for managing the next period of competitive growth. Pricing performance is affected by internal and external factors. Internal factors of the organization include work culture, guidance by the managers, and administrative support. The pricing strategies would be more efficient where outcome-based control is used in driving the performance of price in the competitive marketplace. This chapter discusses the process dynamics in pricing and ways of implementing appropriate pricing policies and demonstrates building high consumer value. The discussion in this chapter is woven around the conceptual framework of developing pricing policy and building the overall strategy integration process in a competitive marketplace.
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