Published by:
Harvard Business Publishing
Length: 9 pages
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Abstract
Industrial marketers should set prices according to their customers'' perceptions of product benefits and costs. Because price defines a product market, price should be seen as one of the product''s several critical performance attributes. Industrial marketers must manage product planning and pricing simultaneously, taking maximum advantage of the company''s cost structure and building on the company''s competitive competence.
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Abstract
Industrial marketers should set prices according to their customers'' perceptions of product benefits and costs. Because price defines a product market, price should be seen as one of the product''s several critical performance attributes. Industrial marketers must manage product planning and pricing simultaneously, taking maximum advantage of the company''s cost structure and building on the company''s competitive competence.