The Role of Pricing Decisions In Implementing Marketing Strategies
No Thumbnail Available
Adeleye, A. S.
Faculty of Business Administration University of Lagos
This paper is aimed, among others at contributing to the frontiers of knowledge, precisely, to the development of marketing education in Nigeria. Added to this, is the aim of improving the level of understanding of marketing by marketing students and practitioners in Nigeria. The paper reviewed relevant literature and organised the knowledge obtained from different studies. To this end, the article attempted to examine the process of pricing a product comprising five steps namely, pricing objectives, pricing determinant, pricing methods, evaluating consumer response to price, and controlling pricing strategy. The strategic implications of each of the aforementioned steps in the product pricing process were also dealt with in the paper. The paper is concluded by asserting that the role playable by pricing in implementing marketing strategy will depend on the ability of the firm to establish pricing objectives, identify pricing determinants, design pricing methods, evaluate consumer responses to price and control pricing strategy.
Price Marketing Strategies , Marketing education , Students , Controlling pricing strategy , Research Subject Categories::SOCIAL SCIENCES
Adeleye, A. S. (2002), "The Role of Pricing Decisions In Implementing Marketing Strategies", Nigerian Journal of Management Studies, Vol. 9(January), pp. 141-160.