Week 5 discussion

Question 1.

 In collaboration with the accounting and finance department you and the marketing team are to develop a competitive pricing strategy that will make your product or service move ahead of the competition. Based on what you have learned thus far in the course, what are some of the major factors that should be taken into consideration when developing a pricing strategy for your company? Present your discussion in a way that it will thoroughly convince the executive committee that your pricing strategy is in the best interest of the organization’s profitability. Thoroughly explain. 2 references and 250 word

Question 2.

 In light of the discussion board question one, how might the pricing strategy that you are suggesting put your company ahead of the competition? Also, how will your pricing strategy not only attract new customers, but also retain customer loyalty? How do you know? Fully explain. 2 references and 250 word answer