What are the factors to be kept in mind while designing the pricing strategy for a firm?

What are the factors to be kept in mind while designing the pricing strategy for a firm?

We need to analyse factors like:

1. Who is the target market?
2. Whether the product has been doing well in the market or not.
3. Time frame- whether I intend to earn profits in the short run or long run.
4. Which category the product belongs to? (necessity,comfort or luxury)
5. What pricing strategy the rival firms are using?

So to analyse these factors an indepth market research maybe required before designing the pricing strategy.