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Internal and external factors influence pricing decisions. Marketing objectives, costs, and positioning must be coordinated with pricing. Target costing supports product positioning based on price. The type of market and degree of competition impact pricing approaches - under pure competition, prices are set; under monopolistic competition, prices vary over a range. Cost-based pricing can be simplified but ignores demand, while competition-based pricing sets prices in relation to competitors. A company must

Author

Nidhi Gupta

Language

EN