Karim
Sayegh
Strategic
Marketing
Exam
Make-‐up
Assignment
Price
is
one
of
the
fundamental
components
of
the
marketing
mix,
and
is
considered
as
one
of
the
most
challenging
ones
to
accomplish.
This
is
because
the
price
a
company
sets
for
its
products
will
have
a
great
impact
on
the
revenue
and
profits,
however
pricing
is
also
an
important
strategic
issue,
and
a
vital
part
of
positioning
a
product
in
a
market.
Companies
need
to
consider
how
their
price
will
affect,
and
be
affected
by,
the
marketing
strategy,
and
the
other
elements
in
the
marketing
mix.
At
the
same
time,
the
company
needs
to
understand
how
the
price
will
affect
demand
and
the
basic
strategic
objectives
of
the
company,
whether
they
are
profit
maximization,
revenue
maximization,
growth
maximization
or
some
other.
Only
then
can
a
pricing
method
and
structure
truly
be
determined.
Pricing
must
first
be
considered
as
part
of
the
marketing
strategy
and
marketing
mix.
This
is
because
the
price
of
the
product
will
need
to
be
determined
by
its
quality,
and
therefore
the
price
will
have
an
impact
on
the
product...