PRICING IN THE MARKETING ANALYSIS SYSTEM: THEORETICAL APPROACHES

Abstract

The topic of the study is the exploration of known and the search for new theoretical approaches to enhance pricing within the marketing activities system, considering constant fluctuations in market conditions. The article conducts a theoretical analysis of price as a category in the market economy, the impact of pricing on the financial condition, and the market position of a business. The central idea revolves around the creation of a marketing-oriented price. Therefore, the theory of pricing, as a crucial component of marketing, should incorporate a synthetic approach, recognizing that all elements of the marketing complex, including corporate identity, should contribute to price formation. Prices convey diverse information to consumers, making pricing strategy a significant factor in competitiveness. The pricing policy is influenced by both internal and external factors, outlined in detail by marketing analysis. Marketing activities in the field of pricing should be focused on the individualization of demand within the framework of marketing interaction, the creation of stable ties with consumers, while the price is influenced by factors of all components of the marketing complex of enterprises. Businesses increasingly adopt marketing principles in setting prices, making price a fundamental tool in a marketer's inventory. In the marketing analysis of the pricing process strategic pricing policies are identified to achieve the enterprise's defining goals such as profit, market position, leadership, and customer satisfaction. Marketing analysis prompts adjustments to the company's pricing strategies in response to new market situations and considering the stage of the product life cycle. Marketers, having examined macro and microeconomic factors, employ marketing analysis to select a pricing method – a complex task requiring thorough scientific justification. Economic modelling and forecasting of consumer behaviour, along with controlled market tests and purchase simulations, are crucial methods in this decision-making process. Pricing in marketing is a creative process, further underscored by the dynamic business environment.