1. The role of pricing in the marketing mix Pricing is a very important element of the marketing mix. The process of setting the right price for a product plays an essential role in determining the overall success of not only the other elements of the marketing mix but also the overall success and profitability of the firm. It is thus very important that the pricing process of any product of a firm be undertaken carefully to ensure optimal results for the company. Pricing is the most flexible of the marketing mix elements. This ability to change prices according to ...
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