The Challenge with the Pricing of Products or Services

Pricing of products or services may have a huge impact on your business’s bottom line and its brand value. Indeed, price is the only element of the marketing mix that brings revenue and not costs. Even more, price is the element of the marketing mix that is the easiest and fastest to change 1.

The marketing mix refers to the set of actions, or tactics, that a company uses to promote its brand or product in the market. The 4Ps make up a typical marketing mix - Price, Product, Promotion and Place. ... Price: refers to the value that is put for a product. (https://economictimes.indiatimes.com/definition/marketing-mix)

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An Icon Department Store Closes its Doors in South Africa

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Another department store has lost its battle to stay open. “The end of Stuttafords: After 159 years, ‘Harrods of South Africa’ shuts shop” screams a headline in The Sunday Times.  Wow, so after almost 160 years of guts and glory, Stuttafords has decided to throw in the towel.

What a shame, some of us would think. However, think again. Most people probably didn’t even notice that they are gone… and that’s maybe the reason why they are gone…

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