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Essay / Research Paper Abstract
This 3-page paper provides another analysis of the WhatIs.com tutorial, this one dealing with pricing decisions and marketing management. Bibliography lists 3 sources.
Page Count:
3 pages (~225 words per page)
File: D0_MTwhattuto.rtf
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Unformatted sample text from the term paper:
the price, and marketing management, which includes managing external forces and marketing planning and strategy. The first section, dealing with price,
points out that while the pricing decision is critical for marketers, its also an area that isnt dealt with quite as much as the other marketing decisions (such as promotion
and distribution) (KnowThis.com, (b) 2008). The tutorial goes into definitions such as price vs. value, with value referring to the perception of what someone must give up in response to
a particular product or service (KnowThis.com, (b) 2008). Pricing decisions are important because theyre the most flexible and adjustable among the
entire marketing mix (KnowThis.com, (b) 2008). Furthermore, customers decisions are often formed about a product, based on the price (KnowThis.com, (b) 2008). Internal factors in setting the price include how
much can be produced, how much it costs to be produced, and how much the competition is charging for the same product (KnowThis.com, (b) 2008). In some cases, government regulation
may be involved in the pricing scenario as well (KnowThis.com, (b) 2008). Its important to know and understand what other forces can impact pricing other than the cost of producing
a particular good or service. The other section well discuss is that of managing external forces, in other words, opportunities and threats
which can alter how a particular industry or firm can conduct its business (KnowThis.com, (a) 2008). External forces are beyond the
control of any marketing organization - in other words, marketers dont have the power to determine the direction or intensity of a change in those forces (KnowThis.com, (b) 2008). Rather,
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