Price is an important element of the marketing mix. Create a word response to the following, * Describe the importance of pricing in the marketing mix * Describe three different pricing strategies and provide a real-life example of each in action. * Suggest another strategy that would have worked better.

Marketing
20th Edition
ISBN:9780357033791
Author:Pride, William M
Publisher:Pride, William M
Chapter19: Pricing Concepts
Section: Chapter Questions
Problem 1DYMP
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Price is an important element of the marketing mix. Create a word response to the following, * Describe the importance of pricing in the marketing mix * Describe three different pricing strategies and provide a real-life example of each in action. * Suggest another strategy that would have worked better. * What are the steps that need to be followed for developing the pricing of a new product? Can these steps be interchanged? Why?
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