For the remainder of this tutorial we look at factors that affect how marketers set price. The final price for a product may be influenced by many factors which can be categorized into two main groups:
price taxation consumers income
It could be that there is not much oil which means less gas which means higher prices to the oil companies. It could also be that oil companies and nations just want money and raise the prices.
Taking pricing decision is one of the critical factors of business. to take the pricing decision a proper research needs to be carriedout such as on the product availability, competitor's pricing strategy, customer's perceived pricing, customers willingness to pay the price of the product, demand factor etc. The pricing decision influences the demand of the product in the market, the pricing strategy of the competitors, the profitabilty of the company and the most important is the customer decision on purchasing the product such as which barnd product to but and which not, which will give the major satisfaction to the customer by rendering the higher value at the lesser price then the competitors.
There are three main considerations a business must look at when setting prices:
Factors include: * Marketing objectives. * Accounting objectives (Costs). * Legal issues. * Competition. * Customer response to price. * Channel member expectations.
Supply and demand
HI
Identify the general influences on pricing in practice
State the impact of Psychological influences on the consumer decision process?"
The citizens of a the country can influence decision making
consumers
Decision support systems help managers analyze information within the organization. Based on this information, managers can make better decisions about pricing and profitability.
You are creating a network-based video game. What influences your decision about which transport protocol to use for the application?
Many factors can influence the decision to drink. Peer pressure and stress are two of them.
what has OPEC done to limit the effect of non member production on its pricing decisions?
it means to save something
There are various factors that affect the pricing decisions of a company. Customer, competition, economical factor's such as weak buying power or recission and the host govt laws. Besides these factors internal factors of companies are also affectimg the priciog decision.
Definitely science and technology influences decision making not only in administrative establishments but also in society. For example science and technological developments influences the community in career selection ,the way we live, our habits and entertainment and every thing. This continuous research and improvements in science are a must for betterment of society.
eBay has a list of used trampolines and it's good to use that as a guidline when it comes to pricing almost anything. The decision is ultimately up to the individual pricing it. Depends on how good it is or not.