Prof.(Dr.) Arun Bhatia

  Decoding Pricing Strategies: Mastering the Art of Setting the Right Price for Your Product or Service with Five Exemplary Cases Pricing is not just about putting a number on your product or service; it's a strategic decision that can significantly impact your business's success. In this comprehensive guide, we will delve into the intricate world of pricing strategies, exploring the key principles, methodologies, and real-world examples that showcase the art and science of setting the right price. Part 1: Understanding Pricing Strategies 1.1 The Importance of Pricing Significance of Pricing: Pricing directly influences revenue, profitability, market positioning, and customer perception. Role of Pricing Strategies: Strategies guide businesses in determining optimal price points to maximize value capture and competitiveness. 1.2 Factors Influencing Pricing Decisions Cost-Based Factors: Considerations such as production costs, overhead expenses, and desired profit margins. Dem...

Scope of Marketing The scope of marketing management encompasses a wide range of activities and functions aimed at creating, communicating, delivering, and exchanging value with customers. It plays a central role in driving business success by aligning organizational objectives with customer needs and market opportunities. Here's an exploration of the scope of marketing management, covering its key components and functions: Product Development: Marketing management plays a crucial role in product development by identifying market needs, conducting market research, and conceptualizing new products or services that meet customer demands. Marketers work closely with product development teams to define product features, specifications, and positioning strategies that differentiate the offering from competitors and appeal to target audiences. Pricing Strategy: Pricing is a fundamental element of marketing management, as it directly impacts profitability, market positioning, and custo...