The point came in a discussion with some marketing friends. As we all know the marketing folks are closest to top management! who better to dig out the influential tool. Yes it is a tool and its called 'Pricing'
How does pricing brings you closer to the top management.?
Well, for one, it is the thing in direct control of the top management, all other Ps (Product, Placement, & Promotion) are the result of extensive R&D, there is little that can be changed. Secondly it comes last in the four 'Ps', and we all know that we remember the closing argument/scene the most, that's what pricing offer, the last scene in a long play. On top of that, pricing translates into profit, pricing strategy sets mood for the profit to rise (or fall, in-case you are fired, don't say I didn't warn you)
Speaking honestly, pricing is not that simple, it is actually quite difficult. It has to take under consideration all the factors, from the raw idea of the product till the consumer sees the product in the shelves, the whole supply chain has to be thoroughly studied and mastered. It means that to be a great pricing strategist, you must master the whole chain that it had followed.
