Pricing - Research Article from Encyclopedia of Business and Finance

This encyclopedia article consists of approximately 10 pages of information about Pricing.
This section contains 2,758 words
(approx. 10 pages at 300 words per page)
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Pricing

Price is perhaps the most important of the four Ps of marketing, since it is the only one that generates revenue for a company. Price is most simply described as the amount of money that is paid for a product or service. When establishing a price for a product or service, a company must first assess several factors regarding its potential impact. Commonly reviewed factors include legal and regulatory guidelines, pricing objectives, pricing strategies, and options for increasing sales.

Legal and Regulatory Guidelines

The first major law influencing the price of a company's product was the Sherman Antitrust Act of 1890, passed by Congress to prevent a company from becoming a monopoly. A monopoly occurs when one company has total control in the production and distribution of a product or service. As a monopoly, a company can charge higher than normal prices for its product or service, since no...

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This section contains 2,758 words
(approx. 10 pages at 300 words per page)
Buy the Pricing Encyclopedia Article
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Encyclopedia of Business and Finance
Pricing from Encyclopedia of Business and Finance. Copyright © 2001-2006 by Macmillan Reference USA, an imprint of the Gale Group. All rights reserved.
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