King, 1990).
The marketing practices which most often lead to big troubles for businesses are those related to the Four Ps of marketing product, price, place, and promotion (Cole, 1988). A product is defined as anything offered for exchange to another person including physical objects, services, places, organizations, and ideas. Consumers typically recognize five distinctive product characteristics quality level, features, styling, brand name, and packaging. Depending upon the type of product involved physical, service, and so forth, not all of these characteristics will be applicable in each instance.
Pricing strategy is the overall task of defining the price range and price movement through the time period required to support the organizational sales and profit objectives and to support product positioning decisions. Pricing tactics, on the other hand, is the task of setting the specific price levels, together with the conditions for altering t
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