One or more of the following objectives are taken into account in pricing decisions:
• Maximizing profits: Maximizing business profitability is the leading objective of any pricing policy.
• Maintaining or increasing market share: Maintaining and increasing the market
share of the business in the sector is closely related to the pricing decisions.
• Determining socially responsible prices: Today, most of the businesses take various social objectives such as environmental factors, legal restrictions, moral factors into consideration while determining their pricing policies.
• Maintaining the minimum return on investment rate: Businesses consider each
product or service as an investment. They do not invest in any production or service unless they provide a minimum return. Businesses try to determine a price that will provide a minimum return on their investments.
• Being customer focused: It is aimed to make the customer feel that the customer needs and sensitivities have been reflected in the price while determining the prices.
• Maximizing sales revenues: In the case of cash need or uncertainty in the market, businesses can set a price to increase their sales instead of their profits.