The Pricing Process Based on the Corporate Strategy

Pricing is an important management activity of the corporate strategy. However, as a tool of marketing mix, price is easily utilized. The firms are preoccupied with the pricing methods based on the cost, competitors, and needs so that they fail to consider the full range of pricing determinants. Owing to the error guideline on pricing and inept pricing process, price is ineffective. This article introduces the pricing process based on corporate strategy. It provides a systematic means for pricing, an applicable pricing process. The logic sequence of pricing process is as follows: considering the strategic role of price and pricing objectives; evaluating the internal and external pricing determinants, pricing strategy and the integrated pricing techniques; and analyzing the necessary implementation and control procedures.