Discussion: Pricing―One of the 4 P’sProduct,Place,Price, Promotion
Being up to date with current events is an important part of becoming a business professional. In marketing, it is part of an important responsibility to continuously scan the external environment for opportunities and threats. Execute the following steps to successfully complete this Discussion on the pricing component of the marketing mix:
Step 1: Choose a current article on pricing from the Library located in the home area of the course room. You can use the following search terms: The 4 P’s -Pricing
- You can also view a tutorial on the 4 P’s located in the Course Documents.
Step 2: Cover the following topics in your Discussion answer in essay format:
- Discuss the key purpose of the article in relation to the pricing component of the Marketing Mix.
- Identify two pricing concepts that you learned from reading this article.
- From the perspective of a professional, what impact does the information on pricing in this article have on the marketplace?
- From the perspective of a consumer, what impact might the pricing concepts in the article have on the buying decisions of consumers?
- How might this information on pricing affect you personally?
Research article and reference
Lamb, C. W., Hair, J. F., & McDaniel, C. (2014). MKTG7. Mason, OH: Cengage.