The Marketing Opportunities and Threats Posed by the Growing Importance of Socially Conscious Consumer Free Essay Example, 5500 words

Basically setting of prices is an effective and critical stage for every management. It involves many factors to be considered to set the final price of the product. From the sales point of view, the manager has to set a competitive price through which they can earn more profit. The ratio of sales increases and they can compete well in the market. Whereas accountants are reviewing the prices to effectively reduce the cost in order to have high-profit margins. All these factors are considered to set the prices. From my point of view, the accountant's point is valid. the prices are set in such a way to earn maximum profit. Whereas I totally agree with the sales manager s point of view, is to set competitive prices to excel in the market. The sales managers can play a drastic role in price setting. The prices of the products are such which brings high yield and simultaneously gets high sales from the market. The price setting process also considers the point on which the consumer has t o pay indirectly the sales tax. We will write a custom essay sample on The Marketing Opportunities and Threats Posed by the Growing Importance of Socially Conscious Consumer or any topic specifically for you Only $17.96 $11.86/page There are many factors which can gain bad publicity for the company. It could be because of some dissatisfied employees, or customers, due to some accidents or some mishap at the factory area. It could be anything which costs heavily to the company. The competitors takes advantage of such incidents and the financial effect are adverse in such cases. The share price of many companies in such situations falls rapidly. Whatever the case may be which results in bad publicity. The key is how to handle the situation. Most of the companies avoid having public dealing or meeting which creates a negative impression in such a situation.