BUS 402 Lecture Notes - Lecture 8: Tiffany & Co., Marketing, Root Mean Square
Document Summary
Pricing should always be treated as a marketing strategy and not just an after thought to the rest of the marketing mix. Consumers don"t necessarily want a low price all the time or for all prod- ucts. Rather, they want high value, which may come with a relatively high or low price, depending on the bundle of bene ts the product or service delivers. Price is the only element of the marketing mix that generates revenue. Every other element in the marketing mix may be perfect but, with the wrong price, sales simply will not occur. A company objective based on the belief that increasing sales will help the rm more than will increasing pro ts. Some rms may be more concerned about their overall market share than about dollar sales per se because they believe that market share better re ects their success relative to the market conditions than do sales alone.
