Pricing objectives or goals give direction to the whole pricing process.Determining what your objectives are is the first step in pricing.When deciding on Pricing Objectives you must consider:1) The overall Financial, Marketing, and Strategic objectives of the company;2) The objectives of your Product or Brand;3) Consumer Price Elasticity and Price Points4) The Resources you have available.Some of the more common Pricing Objectives are:• Maximize long-run profit maximize short-run profit• Increase sales volume (quantity)• Increase market share• Obtain a target rate of return on investment (ROI)• Stabilize market or stabilize market price: an objective to stabilize price means that the marketingmanager attempts to keep prices stable in the marketplace and to compete on non priceconsiderations. Stabilization of margin is basically a cost-plus approach in which the managerattempts to maintain the same margin regardless of changes in cost.• Company growth• Maintain price leadership• Discourage new entrants into the industry• Match competitors prices• Encourage the exit of marginal firms from the industry