... need to develop it to, satisfy present and future customer needs. If the company has competitors they need to develop their product/service to be that one step better and more developed, they need to do this by constantly conducting their market research. The company needs to manage their products effectively so that they can satisfy a bigger consumer range. The pricing strategy is one of the difficult areas of marketing decision making. The effect of the price of the product can effect the success of the product, if the product is to low then consumers will obtain the impression that the product is of low quality, if the product is priced to high then it will be to expensive and it will be seen to be aimed at the higher class. Therefore it is essential that producers get the price at the optimal point. The place of the product is also essential. Where the product ...

See this essay or coursework document in full right now