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Undoubtedly, an effective marketing plan is a must-have for a company that wants to increase productivity and augment output not only through the uniqueness of its products, but also a pricing strategy. Unlike advertizing, pricing is to attract a certain population on which the company concentrates its major activity. Generally, costs coverage is directly dependent on the effective pricing strategy. Thus, the pricing aspect of a company’s activity is of indisputable importance as the pledge of profits and growth.

Within the context of ensuring the most important function of any kind of business – providing value, pricing strategy is really necessary. In this context, it accounts for two roles, which are covering expenditures and creating value added. The former prevents the company from plunging below a break-even point, whereas the latter provides the economic entity with a reasonable profit margin, hence ensuring the stable growth of the company’s shares, attracting more investors, and positioning it as a credible market player.

From the customers’ perspective, the costs of goods and/or services should be fair for an ordinary customer pays attention to a low-priced product provided that the products of other producers are of appropriate quality (Gartenstein, 2015). However, it is not necessary to charge the price making it as low as possible. The point is that prices should be coherent with products’ quality. Therefore, a high quality product should cost more than an inferior one, but a little less than a high quality item. This indicates that a company slightly sacrifices for the benefit of its customers, hence making its marketing share to expand.

Therefore, an effective pricing strategy results in a considerable marketing share, high profitability, and reasonable financial stability.