The price of an item is an important component of decision making in procurement, but is not the only factor for a final decision. Write a 3-4 page, APA style paper that reviews the overall components of a pricing strategy. Include examples from external research to support your views. Describe a company that has used a purchasing strategy to improve the financial impact of the company. Use at least two scholarly sources from the Ashford University Library, in addition to the textbook, to obtain examples.

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As observed across several business disciplines, there are fundamental elements that are involved in the development of a pricing strategy. It is therefore advisable to create a pricing blueprint that examines the costs, the pricing goals and the competitive pricing. Clear knowledge and awareness of these elements is very helpful when it comes to reviewing and possibly modifying the current model of pricing. This helps the business team to communicate its priorities as well as improve the financial impact of the company (SmallBizWorthy, 2010) …

865 words APA