Discuss the key purpose of the article in relation to the pricing component of the Marketing Mix

Topic 1 Discussion: The 4 P’s

Being up to date with current events is an important part of becoming a business professional. In marketing, it is part of an important responsibility to continuously scan the external environment for opportunities and threats. Execute the following steps to successfully complete this Discussion on the pricing component of the marketing mix:

Step 1: Choose a current events article on pricing from one of the following websites to study:

KnowNOW!®: http://community.cengage.com/GECResource/blogs/marketing/archive/tags/Pricing/default.aspx

Learn the 4 P’s© go to: http://www.learnthe4ps.com/category/price/

Step 2: Cover the following topics in your Discussion answer in essay format:

• Discuss the key purpose of the article in relation to the pricing component of the Marketing Mix.
• Identify two pricing concepts that you learned from reading this article.
• From the perspective of a professional, what impact does the information on pricing in this article have on the marketplace?
• From the perspective of a consumer, what impact might the pricing concepts in the article have on the buying decisions of consumers?
• How might this information on pricing affect you personally?

Directions for the Discussion

To obtain full credit for this assignment, you must answer the available question as thoroughly as possible. Your answer should be thoughtful and composed using complete sentences.