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Pricing Objectives

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Pricing objectives are derived from broader marketing objectives. Organizations using a multi$-$segment marketing approach to marketing will likely have different objectives for each brand offered to the market. Smaller firms that seek to fill niche markets will often use only a single approach to pricing products.

The objectives and goals of a pricing strategy are one of the most overlooked elements in the marketing mix. Many firms use simplistic approaches to pricing and fail to recognize the strategic importance that solid pricing objectives can offer. Pricing objectives may be categorized as profit oriented, sales oriented, and status quo oriented.

After reviewing each statement, match it to the appropriate pricing objective or example it best represents.

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