Marketing Strategies: Traditional vs modern Pricing strategies and its influences on consumer purchasing in India

Registration ID: IJNRD_194744

Published ID: IJNRD2305301

DOI: Click Here to Get

JANGA PULLA REDDY , RAMADEVU SIVA SANKAR

In this research paper, we want to tell how marketing managers used to make pricing strategies in the old days, and now in the present trend, how marketing people are changing pricing strategies and making customers buy their products. Price is the one element of the marketing mix that produces revenue; the other elements produce costs. Prices are perhaps the easiest element of the marketing programme to adjust; product features, channels, and even communications take more time. Price also communicates to the market the company's intended value positioning of its product or brand. A well-designed and marketed product can command a price premium and reap big profits. Set prices too high, and you miss out on valuable sales. Set them too low, and you miss out on valuable revenue. Thankfully, pricing doesn’t have to be a sacrifice or a shot in the dark. There are dozens of pricing models and strategies that can help you better understand how to set the right prices for your audience and revenue goals. Pricing strategies account for many of business factors, like revenue goals, marketing objectives, target audience, brand positioning, and product attributes. They’re also influenced by external factors like consumer demand, competitor pricing, and overall market and economic trends.

Published Paper   E-Certificate

JANGA PULLA REDDY & RAMADEVU SIVA SANKAR (May-2023). Marketing Strategies: Traditional vs modern Pricing strategies and its influences on consumer purchasing in India . INTERNATIONAL JOURNAL OF NOVEL RESEARCH AND DEVELOPMENT, 8(5), d1-d15. https://ijnrd.org/papers/IJNRD2305301.pdf

Volume 8 Issue 5, May-2023

Pages : d1-d15

Paper Reg. ID: IJNRD_194744

Published Paper Id: IJNRD2305301

Downloads: 000122000

Research Area: Management

Country: GUNTUR, ANDHRA PRADESH, India

Published Paper PDF: https://ijnrd.org/papers/IJNRD2305301.pdf

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