PRICING

Pricing is the process of determining what monetary benefit a company will receive in exchange for its products. Factors that affect pricing of any product are as follows:

i.         Manufacturing cost

ii.        Market places

iii.        Competition marker condition

iv.        Quality of product

Pricing is the revenue generating element among the 4 P’s of the marketing and is considered to be one of the major determinants of a consumers buying decision process.

Pricing strategy of products change due to factors like:

·         Income level

·         Standard of living

·         Competition in the market.

Price is an important evaluative criterion, A comparative pricing chart for MAGNUM and its major competitors in the Indian market is as follows:

Name of the ICE CREAM	Quantity	Cost (in Rupees)

Hence we observe that even though MAGNUM  is priced at more than a lot of its competitors, it still enjoys the luxury of being the highest seller of ice cream  in the world.