pricing strategy - Cost based pricing - Cost plus pricing and markup pricing

There are numerous ways to price a product in the market. Pricing is one of the most important element of the 4 Ps of marketing (aka the marketing mix) This series of video discusses various pricing strategies popular in marketing. Pricing strategies range from the minimum prices based on the company's cost to the maximum price of how consumers value the product.

All pricing strategies fall somewhere near that spectrum. Cost plus pricing and markup pricing strategies are cost based pricing strategies. Breakeven pricing and target profit pricing which are also cost based pricing will be discussed in a separate video.

Other pricing strategies such as demand based/customer oriented pricing strategies, or objectives based pricing strategies will also be discussed in separate videos.

Dr. Chanchal Tamrakar
The Marketing Channel

[Samir]

thank you so much and hi sir, I'm a class 10 student who's having his commercial applications exam the next day
and your video really helped me understand the concept

[rafaelgarza]

Excellent content, Professor; thank you!

[mizanurrahamanrodhro]

Do you know professor, you are my fav private tutor.

[BLACK-ryuw]

Sir how do you get 0.333% on the desired markup i dont understand that part what is the formula for that one?