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Topic: Student Questions
How Do Marketing Agencies Set Prices?
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I found loads of literature about B2B-Marketing (this is the subject of the assignment) and about different pricing strategies.
The assignment is about writing a business report. I'm an independent marketing consultant and I have to advise my client (a marketing and advertising company!!!) on different issues.
One question for which I couldn't find a proper answer is:
The company has a fairly rigid pricing strategy. What might be the problems with this?
What alternatives could they consider and why?
How should its pricing policy relate to its different (current and potential) customers?
I'm not asking for a complete answer, of course. I will do the work. But I'm still wondering which pricing strategies a MARKETING company should choose. Particularly in times of an economic downturn and a significant decline in sales. In the main literature (IMP etc.) different pricing strategies and their purposes are explained for producing companies. But this marketing company in my assignment is more concentrating on the creative work and buys most of the production from media companies. So is there a reasonable approach?
(Sorry if I made mistakes in grammar but I'm not a native speaker :-) )