Principles of Marketing

Pricing Strategy - Price is an important element of the marketing mix. Create a 300–400 word response and respond to any two of the following bullet points in your response.

• Describe the importance of pricing in the marketing mix
• Describe three different pricing strategies and provide a real-life example of each in action.
• Suggest another strategy that would have worked better.
• What are the steps that need to be followed for developing the pricing of a new product? Can these steps be interchanged? Why?

Conclude your post with a summary paragraph that synthesizes one or two key issues or points of your initial post. Support your answers with examples and research and cite your research using the APA format.