Profit Oriented Pricing Strategy

The video tutorial discusses the role of marketers in setting product prices, emphasizing the importance of covering production costs and considering strategic goals. It introduces the profit-oriented pricing strategy, which focuses on achieving specific profit targets or maximizing profit. The tutorial highlights the complexity of pricing decisions, noting that higher prices can reduce sales volume. It also explains that a profit-oriented approach may lead to higher prices compared to strategies focused on market share.

Discuss the potential complications of setting the highest price to maximize profit.

What is the relationship between profit oriented pricing strategy and market share?