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www.francisestolano.blogspot.comph.linkedin.com/in/estolanofrancis/Chapter 14: Developing Price Strategiesand ProgramsFrancis L. EstolanoMay 10, 2013How Much Are You?
Outline:www.francisestolano.blogspot.comph.linkedin.com/in/estolanofrancis/• 6 Steps in Setting Price• Price Adaptation Strategies
6 Steps in Setting PriceSelect thePriceObjectiveDetermineDemandEstimateCostsAnalyzecompetitorprizeSelectPricingmethodSelect finalpricewww.francisestolano.blogspot.comph.linkedin.com/in/estolanofrancis/
www.francisestolano.blogspot.comph.linkedin.com/in/estolanofrancis/1st Step: Selecting the Price Objective• Survival• Maximum current profit• Maximum market share• Maximum market skimming• Product-quality leadership
www.francisestolano.blogspot.comph.linkedin.com/in/estolanofrancis/4rd Step: Analyze Competitor Price Mix• Identify industry price• Compare with costs of product• Change pricing strategy• Stay ahead with trends in pricingstrategy through competitor
www.francisestolano.blogspot.comph.linkedin.com/in/estolanofrancis/5th Step: Selecting Pricing Method• Mark up Pricing• Target-Return Pricing• Perceived-Value Pricing• Value Pricing• Going-rate Pricing• Auction Type Pricing
www.francisestolano.blogspot.comph.linkedin.com/in/estolanofrancis/6th Step: Selecting the Final Price• Impact of other marketing activities• Company pricing policies• Gain and risk sharing pricing• Impact of price on other parties