It
is a debatable issue. I think that when it comes to pricing, no one
department leads the other. Both marketing and finance perspectives
should be considered.
As marketing department provides customer insights and behavior, competitive analysis, brand value proposition, market positioning, and promotion and discounts. While the finance department is responsible for cost structures, profit margins, the organization's financial health, risk management, budgeting and forecasting, and regulatory/compliance issues.
I think the decision in mature organizations should be taken by the Chief Executive Officer (CEO) who, with both perspectives in mind, will have an overall strategic view of the organization's strategy, including pricing strategies.
As marketing department provides customer insights and behavior, competitive analysis, brand value proposition, market positioning, and promotion and discounts. While the finance department is responsible for cost structures, profit margins, the organization's financial health, risk management, budgeting and forecasting, and regulatory/compliance issues.
I think the decision in mature organizations should be taken by the Chief Executive Officer (CEO) who, with both perspectives in mind, will have an overall strategic view of the organization's strategy, including pricing strategies.
Article by Amr H. Abayazeed - July 07, 2024.
